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Yesterday's addition of Zcash (ZEC), Coinbase's popular exchange service has more than doubled its cryptocurrency line in 2018 and, it seems, the trend is here to stay.
Until August, Coinbase supported a tight inventory of cryptocurrencies on its flagship desktop and mobile apps, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), the last of the which was added last December.
But this year, Coinbase has already beaten its offer with five new currencies: Ethereum Classic (ETC), 0x (ZRX), the USD currency of the Circle (USDC), the Basic Attention Token (BAT) of the courageous browser and Zcash.
In fact, all these tokens came to the platform in the second half of 2018, with four of these added only in the last two months.
The trend is here to stay
The exchange counter, which previously used a rather selective listing fee, opened its application process to almost all the tokens in space in September.
In response, cryptocurrency enthusiasts flocked uncensely onto Coinbase on Twitter. But despite the fierce ridicule, it seems that the cryptocurrency companies are exploiting the new quotation policy.
Meanwhile, skeptics have expressed fears that the move essentially signals the plans of the exchange to expand in the offer of security tokens – once the regulators have actually worked out what defines a "security" in the context of cryptocurrencies .
Obviously, the aggressive expansion of Coinbase's quotes does not surprise cryptocurrency workers, especially in light of its intention to explore a range of activities – over 40 in consideration – for its Custody service.
In July, the desk also shared a small list of cryptocurrencies that it was considering adding to its flagship desktop and mobile apps.
Three of the five assets discussed, namely Basic Attention Token, Zcash and 0x, have arrived at the service. The other two, still unlisted, were Cardano (ADA) and Stellar & # 39; s Lumens (XLM).
Coinbase and regulators
The San Francisco-based exchange has long seen the addition of cryptocurrencies, which could be considered titles. In fact, despite the numerous rumors of insider trading on Coinbase, the company has remained focused on this vision.
A few months ago, in July, Coinbase told Bloomberg obtained the blessing of the Securities and Exchange Commission (SEC) of the United States to close a trio of acquisitions that could allow the company to facilitate trade in security tokens.
The purchase of Keystone Capital, Venovate Marketplace and Digital Wealth presumably provided the exchange with the necessary licenses to act as broker brokers, an alternative trading system and a legitimate investment advisor.
"Being authorized to take ownership of these authorized entities is a further step towards our ultimate goal of allowing our customers to trade stocks on our platform," Coinbase's communications director, Elliott Suthers, told Bloomberg about acquisitions. "There are many more steps and conversations necessary with the regulators before this journey is complete."
A few days later, the company reversed the script, claiming that the SEC had nothing to do with the buyout. Not only that, Coinbase said it never needed the SEC blessing for acquisition – or to list the tokens that could be considered titles.
"IIt is not fair to say that SEC and FINRA have approved Keystone's purchase of Coinstone because SEC was not involved in the approval process, "Coinbase's vice president of communications, Rachael Horowitz, explained to Bloomberg. SEC approval is not required for the change of control request. " Industry experts were ready to do it second Horowitz's request.
The writing is on the wall
Meanwhile, Coinbase is working hard to promote the mainstream adoption of cryptocurrency and to facilitate potential customers to feel more comfortable with the concept of trading and HODLing.
In July, the exchange counter has launched cryptocurrency gift cards so that users can spend their crypto-rich in selected shopping centers and commercial areas in Italy, Spain, France, the Netherlands, the United Kingdom and Australia. Weeks later, Coinbase implemented a plug-in designed to facilitate online retailers' acceptance of cryptocurrency.
In September, the company presented new crypto-bundles and discovery tools designed to help newbies explore cryptocurrencies, become familiar with the underlying technology and perhaps make their first investment. But really, these tools have made it dangerously easy to buy cryptocurrencies, which are associated with high risk and volatility.
Coinbase definitely did not make these moves in vain – rather, it seems that this was a carefully implemented growth strategy on their behalf.
With this in mind, we should not be surprised by the rapid expansion of the altcoin exchange. Instead, we should ask one thing: which cryptocurrency is next?
Published 6 December 2018 at 17:26 UTC
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