New Coinbase Listing Process Will Allow Exchange to ‘Rapidly’ Increase Supported Assets
Cryptocurrency exchange Coinbase has announced a new process that will allow it to list more digital assets faster, according to a statement published September 25.
Per the announcement, the new process refers only to digital assets that are compliant with local law, which means that certain assets listed on the platform may only be available to customers in particular jurisdictions.
Issuers who want to submit tokens at Coinbase via the newly adopted process will have to use a special form, which will subsequently be evaluated by the exchange team against their digital asset framework.
Initially there will not be an application fee, however, Coinbase reserves the right to introduce a fee in the future in order to cover the legal and operational costs related to assessing and listing new assets.
Coinbase states that the new process will allow it to “list most assets over time that meet our standards.” Since the exchange expects the process to make new token listings more frequent, those listings will be announced only once they become available on one of Coinbase’s public products.
At press time, Coinbase supports Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC). Coinbase announced that it would add support for ETC back in June, after which the ETC price jumped 25 percent.
Later in July, the exchange said that it was examining the addition of five new coins to its trading lists, including Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX).
In August, Coinbase started rolling out British pound (GBP) support, that enables the exchange’s customers with U.K. bank accounts to conduct faster transfers, letting customers buy and sell crypto for pounds within the same day.