Bitcoin exchange Coinbase to add ether currency to trading platform

A Bitcoin (virtual currency) coin is seen in an illustration picture taken at La Maison du Bitcoin in Paris July 11, 2014.

Reuters/Benoit Tessier

Bitcoin exchange Coinbase said late Thursday it will add digital currency ether on its trading platform next Tuesday.

With the launch of ether trading next week, Coinbase is also changing the name of its platform to GDAX (Global Digital Asset Exchange), said Adam White, vice president of business development and head of GDAX.

Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs.

Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum uses ether to execute peer-to-peer contracts automatically without the need for intermediaries.

(Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr)