Coinbase will help ease the listing process for digital assets by a more straightforward methodology where an online form is to be filled by the token issuer with the details. The Coinbase team evaluates the token accordingly and checks it against the digital asset framework. If the token is approved, it will be listed on Coinbase.
Listings will take place on a jurisdiction by jurisdiction basis rather than taking the digital assets into a global legal scenario. Therefore depending on the evaluation, some tokens will only be listed for specific countries.
According to the blog post :
“The new process begins with a form for issuers to submit assets for listing at Coinbase, which we will evaluate against our digital asset framework. The application form and the digital asset framework will be regularly updated, and our form will indicate the latest version of the framework we are evaluating against. We will attempt to give quick, specific reasons for the approval or rejection of particular assets.”
Coinbase mentioned at the beginning of the year that they have selected certain digital assets to be added in its exchange. These included Cardano (ADA), Basic Attention Token (BAT), Steller Lumens (XLM), Zcash (ZEC) and 0x (ZRX).
ZeroCrypted Opinion – Coinbase sees themselves as a bridge between fiat and cryptocurrencies. Thus the announcement will help the platform build up worldwide and compete with the likes of Binance which have been facing criticism for its listing fees.
In turn, it will also allow cryptocurrency to be adopted on a worldwide scale as it will take digital assets to many countries depending on the regulations.
Coins like Stellar (XLM) will most probably be put on fast track given the announcement of listing it by Coinbase at the beginning of the year. XLM has features that make it quite attractive to the casual customer base of Coinbase. For example, the low price of XLM which is currently at $0.250837 at the time of writing will lead to casual investors exploring by trading in XLM.
Image Source: Coincentral
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