Last Updated on July 31, 2020 by Ope Quadri
On Friday, Coinbase, a San Francisco-based exchange company announced it’s considering adding 19 additional cryptocurrencies which include Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA and Ampleforth on its exchange platform.
Others being considered for listing are Curve, Helium, Melon, Band Protocol, Balancer, Blockstack, Fetch.ai, Flexacoin, Hedera Hashgraph, Kava, and WBTC.
The announcement did not state a timeline, but the company says it’s evaluating listing the 19 assets on its exchange platform against its “Digital Asset Framework”.
The cryptocurrency firm said it will work towards achieving its goal of offering support for all assets that meet its technical standards and “which comply with applicable laws. Over time we expect our customers around the world will have access through Coinbase platforms to at least 90% of the aggregate market cap of all digital assets in circulation.
The statement read in part, “Framework to assess factors like security, compliance, and the project’s alignment with our mission of creating an open financial system for the world. To apply for listing, fill out an application here.”
19 Cryptocurrecies Under Review
Though coinbase didn’t mention when the new listings would come live, it stated that it is exploring the new assets.
“As part of the exploratory process customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets,” the statement says.
It is however very clear that coinbase is taking all measures needed to be compliance with regulatory laws.
“Our decision to support any asset requires significant technical and compliance review and may be subject to regulatory approval in some jurisdictions.”
The compliance of the new assets to coinbase mode operation and US laws on digital assets would be a determinant to the new listings, “We therefore cannot guarantee whether or when any above-listed asset will be listed on a Coinbase product in any jurisdiction.
“As per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations,” it says.
Established in 2012, Coinbase is a digital currency exchange of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tezos, and many others with fiat currencies in approximately 32 countries, and bitcoin transactions and storage in 190 countries globally.