In a bid to increase access to crypto-assets, Coinbase tries to list as many digital assets as possible. To achieve this goal, the exchange is launching a digital asset issuing platform, Coinbase Asset Hub. The platform will give the power of issuing assets to issuers with limited involvement of the exchange itself.
“We are proud to offer distribution power for issuers to potentially reach our more than 35 million verified users” Surojit Chatterjee, Chief Product Officer at Coinbase wrote in an official announcement.
Coinbase is one of the top cryptocurrency exchanges in the digital currency space. The exchange has over $320 billion in total volume traded and has launched other services such as digital asset custody that now supports over 90 assets and the learn and earn program to encourage newcomers to learn about crypto. Over the years, the exchange has listed dozens of assets to make the platform all-inclusive as long as such assets meet the requirements for listing.
With the new Coinbase Asset Hub, issuers can now list their assets on the platform and manage the full life cycles of such assets through a streamlined process. Conditions like legal, compliance and technical security must however be met for such listings to be permitted by Coinbase.
“We will continue to maintain a standard evaluation framework to ensure every asset we support meets our standards for legal, compliance, and technical security review. Issuers may be subject to regulatory approval in some jurisdictions and we therefore cannot guarantee whether or when any asset will be approved,” the announcement read.
There are currently over 8,000 cryptocurrencies in existence. Though it is said that not all of them will survive, many have the potential to grow because of their technologies. By making the listing process easier for issuers, Coinbase is not only giving way for the legit projects to thrive but also helping to filter out the bad ones through its rigorous screening process to sanitize the industry. More digital services are to be expected for digital asset issuers in the coming months.