Today, San Francisco-based cryptocurrency exchange Coinbase announced that it’s changed its coin listing policy in order to increase cryptocurrency offerings. The new policy changes could result in significantly more coin listings in the future, while transforming Coinbase into a global player.
New Listing Process
From now on, coin creators can go to a new page on Coinbase’s website and submit a listing application without paying a fee. Coinbase will then identify and vet the application based on certain standards. In contrast to the previous policy where Coinbase needed to contact coin projects, now teams can apply and reach out to Coinbase first. Listed assets will no longer be limited to coins that comply with US regulations, as assets can be listed regionally if compliant with regional regulations.
Coinbase is known for its versatile business model that appeals to retail and institutional investors alike. Founded in 2012, Coinbase operates in 33 countries and serves over 20 million customers. Its services include an exchange trading 5 major coins, asset management, venture capital, custody, and brokerage. The startup has grand ambitions of becoming a household name and New York Stock Exchange for varied cryptocurrency products and services.
Coinbase’s Goals to Expand
In a CNBC “Fast Money” interview, vice president Dan Romero stated: “Ultimately, crypto is a global phenomenon. You have software developers and entrepreneurs around the world building products on top of crypto, and it’s unlocking a lot of use cases, particularly in emerging markets. I think we need to shift as a company to a more global perspective.”
Coinbase currently lists Bitcoin (BTC) 00, Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC). Hundreds of coins and tokens could potentially be added to Coinbase. Romero added:
It’s responding to what customers want. Adding more assets is directly something customers are telling us. So, ultimately, by adding more assets, we are going to increase trust and make the platform easy to user for customers.
As Binance and other foreign exchanges have grown their trading volume with numerous available coins, Coinbase’s new policy aims to increase the exchange’s business and make it more attractive to overseas traders and investors.
The cryptocurrency community found the news exciting. Redditors hyped the future listings of Ripple (XRP), Nanocurrency (NANO), and 0x (ZRX), which were only rumors in the past. Regardless of the exact coins chosen, the new policy might expand Coinbase into a global ecosystem and attract many more speculators and entrepreneurs.
What new coins do you think Coinbase will list? Let us know in the comments below!
Images courtesy of Bitcoinist archives, Shutterstock.