Coinbase Exchange Adds Four Tokens, Plans For More Than 30 In Works

Innovation, Investing, News | December 10, 2018 By:

Crypto exchange Coinbase Pro has added support for Civic, District0x, Loom Network and Decentraland’s tokens and plans to activate them over the next few days.

Orders will be in transfer-only mode for 48 hours, which means customers can deposit but not withdraw any tokens.

The move follows Coinbase adding Zcash at the end of November, and has indicated it has more than 30 tokens “under consideration” for listing, including Cardano, Stellar and Tezos. The announcement means that the tokens may or may not appear in the near future, once the due diligence is completed and infrastructures are in place.

Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap,” the company said in a blog post. 

“Furthermore, our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet. Finally, as per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, which allows us to add assets efficiently and responsibly.”

The exchange also issued a warning that some assets it intends to list may appear on apps and other services before they are officially listed, in effect allowing speculators a quick in and out. To combat that, Coinbase noted it “cannot commit to when or whether these assets will become available.”

In September of this year, Coinbase implemented a new policy for listing new cryptocurrencies, allowing it to rapidly list all assets that meet their standards and are compliant with local law. Since implementing the new policy, the exchange has added several new assets on Coinbase Pro, including Brave Browser’s Basic Attention Token (BAT) and 0x protocol’s ZRX token.