Coinbase Announces Its Support For Eight New Digital Assets

U.S. based cryptocurrency trading platform Coinbase has announced on Monday, that it is looking to support new digital assets. All such assets must be must be compliant with jurisdictional regulations and local laws. Some of those under review are, Waves, Ontology (ONT), Matic Network (MATIC), Harmony (ONE), DASH, Cosmos (ATOM), Algorand (ALGO) and Decred (DCR).
Headquartered in San Francisco, Coinbase brokers exchanges for digital currencies like Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC) and Litecoin (LTC) with fiat currencies in around 32 countries globally, and bitcoin transactions and storage in about 190 countries worldwide.
According to a tweet made from the official Coinbase twitter handle, the firm’s steps to include more digital assets are being taken to meet its goal of supporting all assets demanded by its customers as long as those meet the platform’s standard and comply with their respective local laws.
They said,

“Coinbase is exploring the addition of 8 new digital assets. It’s our goal to offer support for all assets that meet our standards and are compliant with local law.”

The platform has not provided any time frame regarding the support of these new assets. They informed its community of the chances of some jurisdictional restrictions to come up with respect to some of the new assets. They also took the opportunity to inform the community of possible signs of engineering works which suggest potential support for any or all of the assets in question. They also made it clear that other assets not currently included in the present list may be supported in the future.
Meanwhile, all eight tokens are already available on Binance, one of Coinbase’s most formidable exchange rivals. The move to expand its digital asset offering may signify that Coinbase is steering the exchange in the direction of Binance, that is, to have a more diverse listing that can drive up the trading volume on the platform.

Rishma Banerjee

Rishma is currently pursuing a bachelor’s degree in International Relations and has a special place in her life for sifting through all sorts of random trivia, thank you very much.