News

Coinbase Explores Eight New Assets; Seeks to Broaden Market Access

Published

on

.

Last modified

on

Coinbase set to list eight new coins

Coinbase, a leading crypto exchange has unveiled that it seeks to list eight new crypto coins on its platform. The exchange made this announcement via a blog post on August 5. Per Coinbase, this expansion is part of a broader goal that aims to offer clients access to 90 percent of the total market cap of all coins.

In the blog post, Coinbase noted that it may launch public-facing API’s and show other signs of engineering work as it continues exploring which coins it would add. The exchange revealed that it is considering adding support for the following coins,

Algorand (ALGO), Cosmos (ATOM), Dash (DASH), Decred (DCR), Matic (MATIC), Harmony (ONE), Ontology (ONT), and Waves (WAVES).

Explaining that it is still early to tell whether it would list the above coins, Coinbase noted,

Our decision to support any asset requires significant technical and compliance review and may be subject to regulatory approval in some jurisdictions. We therefore cannot guarantee whether or when any above-listed asset will be listed on a Coinbase product in any jurisdiction.

Coinbase Aims to Introduce Global Support for Over 90 Percent of All Crypto Coins

The San Francisco-based exchange also noted that its end goal is listing a minimum of 90 percent of all the crypto coins in circulation for customers across the globe. Per the exchange, it will achieve this feat via its Digital Asset Framework. This framework helps it assess the requisite properties of assets that it wants to list.

In May, a report unveiled that Coinbase had expanded its services into 50 new countries. In addition to this, the exchange introduced USDC trading in 85 countries. Prior to this move, Coinbase was only available to clients in 32 countries.

In its official announcement, the exchange said,

Stablecoins are beneficial to anyone who trades crypto, but also have the potential to materially improve the lives of people in countries where inflation is eroding wealth.

Coinbase claimed that stablecoins such as USDC could help ease inflation in counties such as Argentina and Uzbekistan.

This news comes after Coinbase published new listing guidelines in September last year.

In a follow-up blog post, the exchange noted,

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.

Do you think Coinbase will reach its goal of listing at least 90 percent of the total number of crypto coins in circulation? Let us know in the comments below.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending