Crypto Exchange Coinbase To ‘Rapidly’ Add Digital Assets With New Listing Processbr>
Crypto exchange Coinbase has announced a new policy for listing new cryptocurrencies, allowing it to list more assets faster.
In its announcement, Coinbase said the goal of the new policy is to rapidly list all assets that meet their standards and are compliant with local law. Currently, the exchange support bitcoin, Bitcoin Cash, ethereum, Ethereum Classic, and Litecoin, and have announced that it is exploring the addition of several new cryptocurrencies.
“Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner,” Coinbase said. “In practice, this means some new assets listed on our platform may only be available to customers in select jurisdictions for a period of time.”
Under the new policy, issuers who want to submit cryptocurrencies for listing at Coinbase will have to use an online application form, which Coinbase will evaluate against its digital asset framework. The framework will be regularly updated, and the form will indicate the latest version of the framework the exchange is using for evaluation at the time.
While there will not be an application fee initially, Coinbase said it 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. Even in the absence of an application, Coinbase may choose to list some assets on the basis of its own evaluation.
“We expect to publicly announce the addition of new assets only at or near the time of public launch across one or more Coinbase products,” Conbase said. “In other cases, we will attempt to give quick, specific reasons for the approval or rejection of particular assets.”
Coinbase stated that this new policy will allow them to quickly add assets while remaining compliant with local law and continuing to offer their customers “the safe, high-quality experience they have come to expect from Coinbase.”