Coinbase, a prominent U.S. cryptocurrency exchange, has officially delisted Polygon (MATIC) from its trading options. This significant move follows Polygon's major network upgrade and its pivotal transition from MATIC to the new Polygon Ecosystem Token (POL), prompting a series of operational changes for Coinbase users.
Coinbase's Delisting and Migration Process
In response to Polygon's token upgrade, Coinbase has ceased all spot trading for MATIC. The exchange also temporarily halted send and receive functions for MATIC from October 14 to 17, aligning with the token migration period. Crucially, Coinbase announced it would automatically convert all existing MATIC balances, including staked assets, to the new POL token during this window, ensuring a seamless transition for eligible users.
User Preparations and Future Functionality
Ahead of the migration, Coinbase had already disabled staking and unstaking services for MATIC on October 7, temporarily restricting users from earning staking rewards. While automatic conversion was a key feature, the exchange had urged users to send their MATIC to a compatible self-custody wallet before October 14 to activate this service, an offer now closed. Following the completion of the migration, Coinbase users will regain full functionality, being able to trade, send, receive, and stake the new Polygon Ecosystem Token (POL).
