Coinbase has been very active in recent months when it comes to adding assets beyond Bitcoin, Ethereum, and Litecoin. Last year, the company added Bitcoin Cash to the lineup as well and more recently added support for Ethereum Classic, Zcash, 0x, and the Basic Attention Token. They also listed a stable coin called USD Coin which is partly backed by Coinbase.
Following in line with this new surge in recognizing and adding new assets, Coinbase announced today that it has a short list of 31 new digital assets it is in the process of considering.
For various reasons, they do not guarantee each asset will be added, nor have they provided a time frame.
According to the press release, Caoinbase says they “evaluate prospective assets against our Digital Asset Framework to assess factors like security, compliance, and the project’s alignment with our mission of creating an open financial system for the world.”
31 Lucky Winners
Well, they haven’t “won” anything, yet, but to be mentioned on a short list by the largest U.S crypto exchange can drive new interest into any project.
Coinbase also notes that just because an asset appears on their list does not, in any way, guarantee that it will one day be available on the platform.
The assets are under consideration for new Coinbase listings:
- 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)
- Zilliqa (ZIL)
Some of those projects, such as Cardano, EOS, Neo, and Stellar are already within the top 20 in terms of market cap. Others on the list, however, are practically unknown coins floundering outside the top 100, such as Bread Wallet currently sitting at 150 according to CoinMarketCap.
“Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap,” the press release says.
Some coins on the short list may be listed, but may also have certain limitations and/or only be available to customers in certain jurisdictions. Part of the listing process will evaluate assets and add them “on a jurisdiction-by-jurisdiction basis,” which allows Coinbase “to add assets efficiently and responsibly.”
According to the Coinbase asset listing process, the company sees itself as the “global bridge from fiat to crypto, from the fragmented financial system of today to the open financial system of the future.” This, of course, means navigating the seemingly endless field of regulations as cryptocurrency endures increased scrutiny from country to country, and even state to state within the U.S.
To this end, Coinbase has been adding new assets at a fairly quick pace, and it’s entirely possible to expect some projects on this list to go live before the end of the year based on the schedule of prior announcements.
The company has worked diligently on streamlining their evaluation process to comply with regulations and local laws while at the same time attempting to present the widest menu of asset options available to their customer base.
While no timeframe or commitment is being made, Coinbase urges users to follow their social media accounts for timely updates on the potential for new asset listings.
Featured image courtesy of Coinbase
The above is to be considered opinion and not investment advice in any way, as an unbiased media, no one interferes with the Editorial content of CryptoInsider.com, writers have freedom to choose their own direction, members of Crypto Insider do not participate in trades based on content.
Like what we wrote? Donate to us today so we may continue to write!