Cryptocurrency Exchange, Coinbase Announces Newly Adopted Procedure for Crypto asset listings

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Photo Credit: Coinbase

Coinbase, one of the leading cryptocurrency exchange has announced plans to introduce a new digital assets listing process that will make the process of listing new assets faster.

Following the decision, the new digital assets listing process adopted by the cryptocurrency exchange will only allow the listing of digital assets that are compliant with local law. What this means is that certain assets listed on the cryptocurrency exchange platform may only be available to users in particular jurisdiction.

To this end, issuers who intend to list their tokens on Coinbase using the new listing process will be required to use a specially designed form that will be evaluated by the cryptocurrency exchange team against their digital asset framework.

While the crytocurrency exchange has categorically stated that it would not be charging any fees for application initially, nevertheless, it reserves the right to introduce an application fee in the future to cover the legal and operational costs related to assessing and listing new assets.

According to Coinbase, the newly adopted process will allow the platform to “list most assets over time that meet our standards.” And since the Cryptocurrency exchange expect the process to be more frequent, listing of new token will only be announced once they become available on one of Coinbase’s public products.

As at the time of writing this report, the Cryptocurrency exchange supports the trading of Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC). Also, Coinbase had announced in July that it would add support for ETC, a move that saw ETC price jumped 25 percent.

A month later, Coinbase also stated that it considering the addition of five new tokens including Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX).

Following in similar fashion, Coinbase announced in August that it would begin rolling out British pound (GBP) support. This would enable the cryptocurrency exchange customers with UK bank account to conduct transactions faster.