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Coinbase Considers Offering Support to 18 New Assets Including DigiByte, COMP, and VeChain

The leading cryptocurrency exchange Coinbase is exploring 18 new digital assets to be added on the platform.

Coinbase made the announcement in blog post published on Wednesday, June 10th. The digital assets under review include Aave , Aragon, Arweave, Bancor, COMP, DigiByte, Horizen, Livepeer, NuCypher, Numeraire, KEEP Network, Origin Protocol, Ren, Render Network, Siacoin, SKALE Network, Synthetix, and VeChain.

Coinbase is considering Siacoin but not Siafunds (SF).

According to Coinbase, there is no specific date for the listing of these token. The exchange said that it requires significant technical and compliance review for a digital assets to be supported on the platform and “may be subject to regulatory approval in some jurisdictions.” Coinbase said:

“We therefore cannot guarantee whether or when any above-listed asset will be listed on a Coinbase product in any jurisdiction. As per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations. The omission of assets from this publication does not disqualify any such asset from active review and potential listing.”

coinbase

Coinbase team further noted that as part of exploratory process, customer visiting the platform may see public-facing APIs and other signs as the engineering team is working on the platform to support these assets.

The leading crypto exchange in the US said that it would continue to evaluate more assets against its “Digital Asset Framework” that strives for blockchain assets that aligns with Coinbase mission to create an open financial system.

According to Coinbase, its mission is to support all assets that meet its standards and which comply with applicable laws. Over the course of time, the exchange expects to add support for “at least 90% of the aggregate market cap of all digital assets in circulation.”

But the things for the exchange are not going as smooth as they look. As Crypto Economy reported, Coinbase has recently experienced an outage when the BTC prices crossed $10K on June 1. Outages in April and May have also put a question on the reliability of the Coinbase at critical times.

These outages and rumours about Coinbase selling its blockchain intelligence arm to the Internal Revenue Service (IRS) and the Drug Enforcement Agency (DEA) have resulted in massive withdrawals from the platform.

Even the recent news was not greeted. A Twitter user Whale said:

“That moment when everyone leaves your exchange, so you finally add new coins in an attempt to bring them back…..I think it is a bit late now….”


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Atiq Ur Rehman
Atiq Ur Rehman
Electronics Engineer with a passion to write about Disrupting Technologies like Blockchain. He joined Crypto-Economy in July 2019.
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