Coinbase have announced that they have created a new process which promises to “rapidly list most digital assets that are compliant with local law”. This will potentially mean Coinbase could be listing a number of other digital assets very soon, however, this will be done on a “jurisdiction-by-jurisdiction manner”. Meaning that although new assets may be listed they may only be available to customers in select regions.
The announcement was made on Coinbase’s official blog, and they begin by highlighting how they have always taken a “deliberate approach” when adding new tokens onto their exchange. However, one of their main customer requests is now to add support for new digital assets.
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.
The form is now live on Coinbase and there are three categories of individuals who can apply on behalf of a digital asset to request a listing;
- Lead Developer or Founder
- Major Investor (>$1M invested)
- Executive or Employee
The new process begins with a form for issuers to submit assets for listing at Coinbase, which we will evaluate against our digital asset framework. The application form and the digital asset framework will be regularly updated, and our form will indicate the latest version of the framework we are evaluating against.
There is a 6 stage framework which a digital asset must satisfy before they will be listed on the Coinbase exchange. However this is very easy to follow and also has checkboxes so anyone who is interested in looking will be able to evaluate if their token does meet the specific criteria.
Initially there is no application fee, however, they have specified that dependant on the volume of submissions they “reserve the right to impose an application fee”.
Initially there will be no application fee. Depending on the volume of submissions, we reserve the right to impose an application fee in the future to defray the legal and operational costs associated with evaluating and listing new assets. At our discretion, we may choose to list some assets on the basis of our own evaluation, even in the absence of an application. In other cases, we will attempt to give quick, specific reasons for the approval or rejection of particular assets.
“With this shift in process, our customers can expect us to list most assets over time that meet our standards. Because listing announcements will become more frequent, we expect to publicly announce the addition of new assets only at or near the time of public launch across one or more Coinbase products.”
Coinbase have recently announced their plans to add custody support for “40 cryptocurrencies”, including, XRP, NEO, Ontology and many other major cryptocurrencies. Coinbase is one of the largest cryptocurrency exchange platforms in the world. They currently support Bitcoin, Bitcoin Cash, Ethereum and Litecoin, with upcoming assort for Ethereum Classic. Well now Coinbase custody are planning support for 40 cryptocurrencies on top of this.
Coinbase Education Assets Pages
Coinbase announced on 24th August that they will be launching a new update.
It’s no secret that many consumers feel overwhelmed when trying to research and learn about cryptocurrencies. We’ve heard from our customers that they are always looking for trusted sources of information and, as one of the world’s leading exchanges, we’re committed to offering educational resources that help them navigate the world of cryptocurrency.
Starting today, we’re testing new ways for customers to explore and view the top 50 cryptocurrencies by market cap — most of which are not available to trade on Coinbase. Designed to be a starting point to learn about new assets, customers can view historic trading data, current market cap, a description of the asset, and links to relevant white papers and project websites*. Over time, we intend to experiment with various formats and types of information to share with customers.
This is still being tested so currently only a small number of users are able to see the top 50 cryptocurrencies on the mobile app. The update will see information regarding the top 50 assets become more readily available.
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