Coinbase announces new policy “aiming to rapidly list new crypto assets”
Coinbase, the largest U.S. cryptocurrency trading service, represented its official policy for new asset listing process.
As reported, top costumer requests were the reason why the California-based company decided to offer new opportunities for those who are interested in listing their own digital asset on Coinbase.
According to Coinbase representatives, the aim of the new policy is to list “most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner”. However, the company warned that the new assets listed on the platform may only be available to customers in select jurisdictions for a period of time.
We've created a more streamlined way to get your asset listed on Coinbase: https://t.co/Caav4WXseP There will be millions of crypto assets in the future and they should all be easy to trade.
— Brian Armstrong (@brian_armstrong) September 25, 2018
In order to list a digital asset on Coinbase, the users can apply here.
“Our goal is to rapidly list all assets that meet our standards and are compliant with local law, while providing our customers with the tools to discover, evaluate, trade, and use digital assets… The new listing process allows to quickly add assets while remaining compliant with local law and continuing to offer customers the safe, high-quality experience they have come to expect from Coinbase”.
As reported, initially there will be no application fee.
“Depending on the volume of submissions, we reserve the right to impose an application fee in the future to defray the legal and operational costs associated with evaluating and listing new assets. At our discretion, we may choose to list some assets on the basis of our own evaluation, even in the absence of an application. In other cases, we will attempt to give quick, specific reasons for the approval or rejection of particular assets,” the company added.
In addition, the company will scale its tools and educational materials to help customers get a better understanding of crypto assets.
Coinbase currently supports Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin.
It’s worth mentioning that in July the company announced that it is exploring the addition of Cardano, Basic Attention Token, Stellar Lumens, Zcash, and 0x. It was reported in August that Coinbase Custody, digital asset custody for institutions, is looking for possibility to add around 40 new digital assets.