The San Francisco-based cryptocurrency exchange platform, Coinbase, has announced that it is considering the addition of five new coins, according to an article published July 13th. Accordingly, the crypto trading platform is considering adding new assets to its trading lists, including Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX).
Also, Coinbase said it would negotiate with local banks and regulators to add assets to as many jurisdictions as possible.
In June, Coinbase announced that it would support Ethereum Classic (ETC) on its platform, after which the ETC price increased by more than 25 percent. According to Coinbase, the process of adding ETCs to its trading platform is “proceeding as planned.” Also, Coinbase pointed out that, unlike the addition of ETC, which is technically similar to Ethereum (ETH), the new assets “will require additional exploratory work.”
We may also allow only certain ways to interact with these assets through our site, such as allowing only deposits and withdrawals of transparent Zcash addresses. Finally, some of these assets may be offered in other jurisdictions before being listed in the US.
Coinbase doesn’t know if all these five cryptos will end up listed on the cryptocurrency exchange platform
The crypto trading platform’s representatives said these assets require further study and they have not yet determined when or whether these currencies will be available on the platform. Coinbase further states that “some of these assets may be available everywhere, while others may only be backed in specific jurisdictions.”
At the time of this writing, all the before-mentioned cryptocurrencies are trading green.
In March, Coinbase announced its intention to support ERC20 tokens in its exchange, saying that its decision to add the ERC20 “paves the way for supporting the ERC20 assets in all Coinbase products in the future.”
Coinbase currently supports four different assets, namely, Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). Last month, the company embarked on the process of becoming a fully regulated stockbroker with the US Securities and Exchange Commission (SEC). This move would help Coinbase cryptocurrency exchange platform expand its offering and then emerge into the non-crypto financial market.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.