Coinbase considers listing DigiByte, VeChain and 16 other coins

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Jun 12, 2020
  • The California-based exchange is exploring the possibility of adding about 18 altcoins to its platform.
  • Coinbase will evaluate all 18 assets to make sure they are in line with the exchange’s goals before listing.
  • Prices of assets under consideration rose significantly after the announcement hit the crypto community.

Popular U.S. crypto exchange Coinbase wants to throw its weight behind 18 altcoins, including VeChain (VET), DigiByte (DGB), Synthetix (SNX) and others. Coinbase, who is based in San Francisco, made a tweet about the development.

The exchange said it’s considering listing about 18 new altcoins on its platform.  Some of the additional digital assets are not live while some others are live.

Coinbase will evaluate each asset before listing them

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The announcement also revealed that Coinbase will evaluate each asset against the exchange’s digital framework, and if the assets meet the company’s standards, it will offer them on the platform. Coinbase further stated that it’s the goal of the exchange to continue offering its support to all assets that meet its standards.

It’s our goal to offer support for all assets that meet our standards and are compliant with local,” Coinbase tweeter page reads.

Although a date has not been fixed for the listing of the tokens, Coinbase said it will continue evaluating the prospective altcoins and measure them against factors like compliance, security, and the asset’s alignment with the mission of developing financial systems for the world.

The exchange says any asset that ticks all the boxes will be listed on the exchange as planned.

Prices of assets under consideration rose significantly        

As has been the case with major announcements like this, the prices of the assets being considered rose considerably when the news hit the crypto community. For instance, VET and DGB have increased by more than 20% since Coinbase made the announcement.

Coinbase has done very well in the area of introducing altcoins to its platform. The firm said it’s in line with its goal of offering wider security and trading access to its users. Traders can have more trading options on the platform, which will help diversify their investment.

The regulations of cryptocurrencies are still not clear in the U.S. which means that crypto exchanges would need to be very careful with their listing plans.

Platforms with more international user-base are always confident of listing new tokens to create more trading options for their U.S. based clients. However, those with little international exposure prefer carrying their operations overseas to prevent sanctions. Out of the crypto assets Coinbase wants to include, DigiByte has had a particularly interesting year. The decentralized blockchain network has always been upfront with ways of improving its systems while keeping track of the promotion of distributed ledger technology.

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