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.
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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 is exploring the addition of 30+ new digital assets. It’s our goal to offer support for all assets that meet our standards and are compliant with local law. https://t.co/Hl2zbVodLl
— Coinbase (@coinbase) December 7, 2018
“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:
- Cardano (ADA)
- Aeternity (AE)
- Aragon (ANT)
- Bread Wallet (BRD)
- Civic (CVC)
- Dai (DAI)
- district0x (DNT)
- EnjinCoin (ENJ)
- EOS (EOS)
- Golem Network (GNT)
- IOST (IOST)
- Kin (KIN)
- Kyber Network (KNC)
- ChainLink (LINK)
- Loom Network (LOOM)
- Loopring (LRC)
- Decentraland (MANA)
- Mainframe (MFT)
- Maker (MKR)
- NEO (NEO)
- OmiseGo (OMG
- Po.et (POE)
- QuarkChain (QKC)
- Augur (REP)
- Request Network (REQ)
- Status (SNT)
- Storj (STORJ)
- Stellar (XLM)
- XRP (XRP)
- Tezos (XTZ)
- Zilliqa (ZIL)
“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.”
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.
CVC, DNT, LOOM and MANA order books will soon enter transfer-only mode. We will accept inbound transfers of these assets, but traders cannot place orders and no orders will be filled. Order books will be in transfer-only mode for a minimum of 48 hours. https://t.co/drhrNCKQOG
— Coinbase Pro (@CoinbasePro) December 7, 2018
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