Coinbase in its bid to become one of the biggest crypto exchange platform has once again announced that it is considering adding support for more than 30 crypto assets in the coming months. While this news might be particularly interesting for crypto investors who may be hoping that the exchange list crypto assets they are interested in, Coinbase remarked that it is not adding the 31 proposed tokens immediately.
According to the company, it is “continuing to explore the addition” of the assets. Per the announcement, Coinbase will be looking to list both ERC-20 tokens and other independent projects.
“Over time, we intend to offer our customers access to greater than 90 percent of all compliant digital assets by market cap,” the company added.
While this may sound particularly exciting, Coinbase made it clear that the process to add new tokens will require “significant exploratory work” especially considering both technical and legal compliance aspects. More so, giving these upheavals, the company clarified that not all named tokens might eventually be listed.
“Furthermore, our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet. Finally, as per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, which allows us to add assets efficiently and responsibly.”
Coinbase further warned its customers that they might see some crypto assets appear on Public APIs before they are officially listed on the platform and should that be the case, the exchange “cannot commit to when or whether these assets will become available.”
With the new development, customers were able to get a glimpse of tokens being added. As a matter of fact, some bots were able to take advantage of Coinbase APIs to begin trading 0x before the exchange officially listed it. Also, some users reportedly saw Zcash appear on Coinbase Wallet app before the exchange officially announced its listing.