Coinbase has announced a new path for altcoin creators to apply to trade on the crypto exchange.
Shared in a blog post yesterday, Coinbase stated:
“Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner. In practice, this means some new assets listed on our platform may only be available to customers in select jurisdictions for a period of time. 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.”
Coinbase added that it intends to list most digital assets, over time, that meet their criteria.
Today, Coinbase supports Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. Recently, Coinbase has announced it is currently exploring the addition of the following Altcoins: Cardano, Basic Attention Token, Stellar Lumens, Zcash, and 0x. But this handful of digital coins may turn into a far wider group of digital assets as demand increases for compliant crypto trading in a secure environment.
Coinbase says that, at least for now, there is not application fee to apply to trade on the exchange. For many other crypto exchanges, application fees are a vital source of revenue.
In a report last August, researchers claimed that much of the cryptocurrency trade volume claimed by exchanges was fake. Coinbase was spared from this list and was noted as the top exchange in the US.
Coinbase says it views itself as a “global bridge from fiat to crypto.” As this sector of Fintech remains very fragmented, Coinbase is well positioned to gain more traction – as it pursues a regulatory compliant approach to crypto.