Coinbase has revamped its asset listing process to enable it to expand the range of assets traded on its exchange.
The venture, which currently supports Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin, says there are thousands of other digital assets including coins, tokens, forks, stablecoins and collectibles which its customers want it to support.
Under the new process, issuers who want to submit assets for listing will be required to fill in a form, which Coinbase will then evaluate against its digital asset framework. Listings will be added in a jurisdiction-by-jurisdiction manner to ensure compliance with local law, meaning some new assets may only be available to customers in certain countries.
Initially there will be no application fee, but this could change in the future depending on the volume of submissions.
“At our discretion, we may choose to list some assets on the basis of our own evaluation, even in the absence of an application,” Coinbase says. “In other cases, we will attempt to give quick, specific reasons for the approval or rejection of particular assets.”
As the exchange expects listing announcements to become more frequent, the addition of new assets will be publicly revealed at or near the time of launch, rather than far in advance as has previously been the case. Coinbase says it will still announce early enough to allow for sufficient liquidity on the exchange and an orderly market bootup process.
And there’s more
In addition to adding more assets to the platform, Coinbase is also revamping its tools and educational materials to help customers learn about assets.
“We think of Coinbase as the global bridge from fiat to crypto, from the fragmented financial system of today to the open financial system of the future,” the exchange says. “We believe this new listing process allows us to quickly add assets while remaining compliant with local law and continuing to offer our customers the safe, high-quality experience they have come to expect from Coinbase.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.