San Francisco based exchange giant Coinbase has just revealed plans of exploring new cryptocurrencies on its platform. The result of this might be the big break for most altcoin cryptocurrency investors who have been anticipating this move in order to strengthen a wider range of trading and adaptation amongst traders.
In a blog post on its official site, Coinbase has laid out its intentions of exploring a total of 31 cryptocurrency tokens, ranging from underdogs like Chainlink and Loopring, to top dogs like Ripple, Stellar, EOS and Cardano, in order to include them in the many different available categories whilst working with regulators and local banks to ensure the possibility of a productive outcome.
Highlighting its mission which is aimed at creating an “open financial system for the world”, Coinbase is focused on supporting digital assets whose goals are in alignment with the exchange’s mission.
Through the process of evaluation, using its Digital Assets Framework, the exchange intends to offer full customer access to over 90% of digital assets with a market capitalization as a top factor, who are fully in line with the exchange’s standards alongside local laws.
The blog post went on to lay emphasis on the fact that exploration of these tokens do not equal overall listing, as this is solely dependent on the results of the exploration of the tokens from a “technical and compliant standpoint”, as such, there is no guarantee that all aforementioned tokens will be listed for the purpose of trading.
Furthermore, the listing process may come with limitations, such that some of the listed tokens will strictly be available for buying and selling, but will not be open to sending and receiving via local cryptocurrency wallets. Concluding that assets will be listed on a basis of jurisdiction, the blog post read ;
“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.”
Back in November, Coinbase announced that it was exploring five new tokens and further went on to list BAT, ZEC, ZRX token. Although Cardano and Stellar were mentioned in the exploration process, the tokens did not fully make it to the listing process. But the narrative is likely to change with the new exploration process as Coinbase is still evaluating ERC-20 tokens.