Coinbase Announces 30 More Cryptocurrencies On the Way
TLDR: Coinbase are working to list up to 30 new cryptos in the near future.
A blog post from Coinbase has revealed the company is working to add more than 30 new cryptocurrencies.
The announcement revealed that ultimately the aim is to integrate up to 90% of all cryptocurrencies to its popular crypto-fiat exchange.
Coinbase recently added Zcash, 0x and BAT, and today’s post reveals this was just the beginning.
It also shed some light on the integration process. Coinbase referenced the large amount of work needed, both from a technical, and legal compliance standpoint.
From a technical standpoint, the company has to build robust wallet and cold storage integration, with many cryptocurrencies requiring entirely new infrastructure to support their unique architecture.
Legal compliance may be even more complicated however, with the unclear regulatory atmosphere clouding the process. Tokens which may become classed as securities under US law, acting as a share of a company, have proved particularly difficult to integrate.
As Coinbase outline however, their policy does not have to be an all or nothing approach. As a global service provider, it may be possible that certain digital assets only become available in certain regions. The company states it will follow a “jurisdiction by jurisdiction process”.
Here are the thirty cryptocurrencies Coinbase is set to integrate:
Cardano (ADA), Aeternity (AE), Aragon (ANT), Bread Wallet (BRD), Civic (CVC), Dai (DAI), district0x (DNT), EnjinCoin (ENJ), EOS (EOS), Golem Network (GNT), IOST (IOST), Kin (KIN), Kyber Network (KNC), ChainLink (LINK), Loom Network (LOOM), Loopring (LRC), Decentraland (MANA), Mainframe (MFT), Maker (MKR), NEO (NEO), OmiseGo (OMG), Po.et (POE), QuarkChain (QKC), Augur (REP), Request Network (REQ), Status (SNT), Storj (STORJ), Stellar (XLM), XRP (XRP), Tezos (XTZ), and Zilliqa (ZIL)
Coinbase are making a pronounced effort to clarify their policy following a troublesome recent history in this area. Earlier this year many users of the platform called foul, believing the platform to have aided or abetted insider trading when Bitcoin Cash was launched. The asset was added without warning, and immediately began trading at nearly double the market price.
The incident caused significant damage to Coinbase’s public image, and the company is clearly looking to avoid more black marks on its reputation moving forwards.
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