As we reported last week, Coinbase has announced a process where any and all altcoins can apply to list and trade on the growing Coinbase platform. Currently, the application process is free and Coinbase aptly notes that accepted crypto will be regulatory compliant and only trade in jurisdictions where the listings meet the requirements of law.
This is a big deal for the broader universe of crypto as Coinbase is a well respected cryptocurrency exchange that has kept the platform on the correct side of the law – most importantly in the US.
But earlier today, CI received a note from a Cobinhood rep that said Coinbase is really playing catch up to their initial coin offering platform (ICO) and listing service. A spokesperson shared:
“ICO listings are an increasingly important source of revenue for crypto exchanges, and clearly competition for business is heating up, as evinced by even the mighty Coinbase enticing prospective ICOs by dropping listing fees. But Coinbase is just catching up to the ICO platform offered by Cobinhood, including services ranging from ICO roadshows to institutional wallet options to legal incorporation, and everything in-between.”
Taipei based Cobinhood, the “world’s first zero trading fees cryptocurrency exchange,” already lists a cornucopia of altcoins (60 plus) beyond the handful of crypto traded on Coinbase. Cobinhood also provides ICO services to help list new digital assets. Tenacious Cobinhood has also launched a decentralized platform Dexon, backed by IDG Capital, as a new blockchain vertical with “infinite scalability.”
But then Coinbase is quite a bit larger when it comes to exchange transaction volume and its momentum is pretty solid right now.