Coinbase introduces new process to speed up listing of new crypto assets

By: Michael Harris
Michael Harris
Specialising in economics by academia, with a passion for financial trading, Michael Harris has been a regular contributor to Invezz. His… read more.
on Sep 26, 2018

The largest US digital currency exchange, Coinbase, announced earlier today that it was introducing a new process that would speed up the listing of new digital assets on its platforms.

“Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner,” Coinbase said in a blog post, adding that “this means some new assets listed on our platform may only be available to customers in select jurisdictions for a period of time”.

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The process, as detailed by Coinbase, requires issuers to fill an application form tor the assets they want to be listed at the exchange. Coinbase will then evaluate the form against its digital asset framework. The company said that both the application form and the framework would be regularly updated and that the form would indicate the latest version of the framework used in the evaluation process.

Initially, Coinbase will not have an application fee, although this could change depending on the volume of submissions the company receives. Coinbase could also decide to list tokens that meet its standards even if application for that token is not submitted.

Currently, Coinbase supports Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC), and it is also exploring the addition of several new crypto assets, such as Cardano (ADA), Stellar (XLM) and Zcash (ZEC). However, with the emergence of hundreds of new virtual tokens, customer demand for even larger expansion of the company’s portfolio has started to grow.

“One of our top customer requests is to add support for these new assets, and we have been determining how to do this in a secure and compliant way for those assets meeting our standards,” Coinbase said. It added that the new process would allow it to list most assets over time that meet its standards.

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