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Coinbase it is the most conservative exchange in cryptoland, largely because it operates in the United States under the watchful eye of the SEC. The company valued at $ 8 billion exchanges less than ten cryptocurrencies for consumers, but on Friday announced it had announced a major expansion that could see it list up to 30 new tokens.
The company said it is considering the support of Ripple's XRP, EOS – the Ethereum challenger who held a one-year ICO that raised $ 4 billion – Stellar, a creation from a co-founder of Ripple, token Kik & # 39; s Kin and more.
The complete list is below:
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), Required Network (REQ), State (SNT), Storj (STORJ), Stellar (XLM), XRP (XRP )), Tezos (XTZ) and Zilliqa (ZIL)
The company recently announced new asset explorations in July, although today it has added four new ERC tokens to its pro service.
Coinbase has recently renewed its policy on new token lists. Instead of abruptly adding new resources, a process that sent their ratings to split with internal trading entries, now it becomes public with its intention to "explore" the potential to list new resources in order to reduce the impact of a quotation. Furthermore, it does not guarantee that, if any, it will do so and will be listed.
"The addition of new resources requires significant exploration work both from a technical and a compliance point of view, and we can not guarantee that all the activities we are currently evaluating will eventually be listed for trading," the company said.
Support for tokens is rather nuanced. Coinbase lists some resources only for its professional service, with only nine supported in its normal bag for the consumer – those are Bitcoin, Cash Bitcoin, Ethereum, Ethereum Classic, Litecoin, Zcash, USD Coin, 0x and Basic Attention Token.
The company can also introduce some state-level tokens in the United States in order to comply with the laws.
Brian Armstrong told the Disrupt San Francisco audience that Coinbase could list "millions" of cryptocurrencies in the future
Coinbase is examining this excess of new tokens – some of which, it must be said, are quite questionable as projects, let alone operate in an uncertain legal state – at a time when the market falls significantly from the January peak, both in terms of trade volumes and market valuations.
In recent weeks sources of many exchanges have told TechCrunch that revenues from commercial transactions have fallen by 50% in recent months and while the numbers of Coinbase are not clear, there is no doubt that its revenue is taking a great success during this "winter crypt". This makes it easy to argue that Coinbase is expanding its selection to increase potential volumes and, in turn, its revenue, especially since it raised $ 300 million from investors with a valuation of $ 8 billion.
The defenders of Coinbase, however, will argue that a broader choice has long been the plan.
Ignoring the reasons, this is certainly true. It is well known that the company wants to increase in a massive way the number of cryptocurrencies it supports.
CEO Brian Armstrong he said as much as our TechCrunch Disrupt event in San Francisco in October, where he drafted the company's plan to be the Crypto New York Stock Exchange.
"It makes sense that any company out there that has a table cap … should have its own token – each open source project, every charity, potentially every fund or these new types of decentralized organizations. [and] app, they will have all their own tokens. We want to be the bridge in the world where people arrive and take fiat currency and can do it in these different cryptocurrencies, "he said during an interview on stage during the event.
That future token could see Coinbase hosting hundreds of tokens within "years" and potentially even "millions" in the future, according to Armstrong.
The company has done a lot of work to make it happen.
Coinbase purchased a securities dealer at the start of this year and took regulatory steps to list securities linked to US securities, albeit with some confusion. In addition, its VC arm supported a startup that helps create "digital security tokens" and the exchange introduced a new listing process that could potentially include a listing fee in exchange for the necessary legal work.
These 30 new (potential) resources may not be the digital security tokens that Coinbase is moving to add, but the fact that the exchange is exploring so many new resources at once shows how broader the company vision is now .
The cryptic community has already reacted strongly to this deluge of new goods. As might be expected, it is a mixture of naive optimism on the part of those who invest in "poorly performing" projects (shitcoin) who think that a list of Coinbases can turn everything and criticism from crypto-observers who express concern for the fact that Coinbase is throwing its prestige and support behind less deserving cryptocurrencies.
Note: the author has a small amount of cryptocurrency. Enough to get an understanding, not enough to change a life.
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