Coinbase exploring addition of new assets

Digital currency exchange Coinbase has revealed it is considering adding five new assets to its platform.

They include Cardano (ADA), a platform that runs the blockchain for the Ada cryptocurrency; Basic Attention Token (BAT), the internal token of the Brave browser; Stellar Lumens (XLM), an open-source protocol for value exchange; cryptocurrency Zcash (ZEC); and 0x (ZRX), an open protocol that allows ERC20 tokens to be traded on the Ethereum blockchain.

Coinbase says it will be working with local banks and regulators to add the assets in as many jurisdictions as possible. However, unlike the ongoing process of adding Ethereum Classic, these assets will require additional exploratory work and there is no guarantee they will be listed for trading.

The listing process may result in some of the assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet. Coinbase may also only enable certain ways to interact with the assets through its site, such as supporting only deposits and withdrawals from transparent Zcash addresses.

“Going forward, you should expect that we will make similar announcements about exploring the addition of multiple assets,” Coinbase comments. “Some of these assets may become available everywhere, while others may only be supported in specific jurisdictions.”

The company is also underway with engineering work to add Ethereum Classic, which it says is proceeding as planned.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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