This Tuesday, the popular cryptocurrency exchange, Coinbase, revealed a new policy for listing additional digital assets. Currently, the platform supports Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), and Litecoin (LTC).
Expanding Their Listings
Announced via a blog post, Coinbase states that their new goal is to “rapidly list all assets that meet our standards and are compliant with local law, while providing our customers with the tools to discover, evaluate, trade, and use digital assets.” This news comes a couple of months after Coinbase’s post revealing their search for new assets to list.
The new process consists of a form that companies can fill out to apply for listing of their asset. Applications will then be critiqued under Coinbase’s digital asset framework. At first, applications will be free. However, as time goes on, the exchange may enact an application fee depending on the popularity of the program. Regardless, the platform aims to provide detailed “reasons for the approval or rejection of particular assets.”
Because of this change in policy, users will see a ton of different assets added based on local law. This means that at times, some currencies may only be available to certain users during specific periods.
Coinbase will no longer announce new coins long ahead of time. Instead, new additional assets will be revealed near the time of launch.
“We will still announce early enough to allow for sufficient liquidity on our exchange and an orderly market bootup process,” states the blog post.
Suggested Reading : Learn how to transfer coins from Coinbase to Binance here.
An Educated Community
Additionally, the Coinbase platform will begin to interact with the world of cryptocurrency developers while also adding educational material to their tools and platforms. This new direction is to help customers learn about added assets, the investment process, and other aspects of the cryptocurrency industry so they can make their own investment decisions.
Coinbase ends their post with an updated version of their vision for the platform:
“We think of Coinbase as the global bridge from fiat to crypto, from the fragmented financial system of today to the open financial system of the future. We believe this new listing process allows us to quickly add assets while remaining compliant with local law and continuing to offer our customers the safe, high-quality experience they have come to expect from Coinbase.”
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