Coinbase Expansion: Exchange Eyes 31 More Cryptocurrencies

Coinbase Expansion: Exchange Eyes 31 More Cryptocurrencies

The Coinbase expansion campaign is accelerating, as the exchange has announced it’s looking at adding support for 31 additional cryptocurrencies. The exchange wouldn’t guarantee any of the coins in question would be listed, but the move shows Coinbase is honing in on widening its users’ access to the cryptoeconomy.

Also see: After Hash War and Choppy Markets, Bitcoin Cash Nears ETH Price

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Largest Coinbase Expansion to Date Potentially in the Works

In a December 7th announcement, Coinbase’s leadership said the exchange was amid a new listing review cycle and therein was considering adding support for 31 new cryptocurrencies.

The additions would mark Coinbase’s largest expansion to date if actualized across the board. All listings will ultimately hinge on assets meeting the exchange’s standards as outlined in their Digital Assets Framework.

After adding bitcoin cash (BCH) in December 2017, Coinbase’s last listing review round was announced this past July. At the time, the exchange said it was exploring adding support for five cryptocurrencies: 0x (ZRX), Basic Attention Token (BAT), Cardano (ADA), Stellar Lumens (XLM), and Zcash (ZEC).

Coinbase continues to eye widening its asset offerings.

Of those five, 0x, Basic Attention Token, and Zcash have since been greenlighted on Coinbase, while Cardano and Stellar Lumens are rollovers into the new review cycle.

“Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap,” Coinbase noted in their announcement.

As for the specific digital assets at hand, they include small-cap and mid-cap projects, as well as big-caps like XRP and EOS. Listed in alphabetical order, the 31 assets the exchange is exploring are as follows:

“Our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet,” the exchange said.

“Finally, as per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, which allows us to add assets efficiently and responsibly.”

Before this current listing review cycle, Coinbase had spent the fall adding support for the Ethereum Classic (ETC) blockchain and the USD Coin (USDC) stablecoin.

Four Tokens Look to Be First Up

Coinbase followed up their exploratory announcement by noting Coinbase Pro, the trading platform where the company typically embraces assets first before rolling them out to their wider ecosystem, would start accepting in-bound transfers of CVC, DNT, LOOM, and MANA tokens.

Over the weekend, Coinbase Pro will establish liquidity in these markets before launching full trading of the associated tokens.

Whether these four cryptocurrencies will soon appear on the base Coinbase platform remains to be seen, though this route seems likely if the tokens follow the trajectories of the company’s recently listed assets, all of which started trading on Coinbase Pro before shortly appearing on Coinbase proper.

What’s your take? Is the Coinbase expansion campaign going in the right or wrong directions? Let us know in the comments section below. 

Images via Pixabay

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