- This move aligns with the exchange’s mission of creating an open financial system for the world.
- Per Coinbase, the coins must meet its technical standards and comply with laws to be listed.
- Coinbase’s expansion efforts saw it list Algorand (ALGO) in the past month.
San Francisco-headquartered crypto exchange Coinbase is exploring the option of adding multiple crypto coins on its platform. The exchange disclosed these plans through a blog post on July 31, noting that this move aligns with its mission of creating an open financial system across the globe. Per the publication, Coinbase aims to support all assets that meet its technical standards and adhere to applicable laws.
According to the blog post, Coinbase intends to review a total of 20 cryptocurrencies for listing on its platform. These include Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera, Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA, and WBTC.
As a result of exploring support for these cryptocurrencies, Coinbase said that its users may see public-facing APIs among other signs as its engineering team works to potentially list the tokens.
Coinbase’s stringent review process
Coinbase went on to explain that its decision to list any coin needs technical and compliance review. Additionally, the listing procedure also requires regulatory approval in some regions. As such, the exchange cannot guarantee the listing of the aforementioned assets.
The exchange stated that its listing process mandates it to list new assets based on a jurisdiction-by-jurisdiction approach. Coinbase further cited that the omission of any of the assets listed above does not exclude the asset from active review and future listing.
Prior to this announcement, Coinbase made a similar one on June 10 this year with others dating as far back as July 13, 2018. In the June 10 announcement, Coinbase revealed that it was reviewing 18 digital currencies. However, among those, only Compound (COMP) has been listed to date.
Coinbase lists Algorand (ALGO)
This news comes after Coinbase listed Algorand (ALGO) as part of its quest to add more crypto coins on its platform. The exchange disclosed this information on July 16, noting that this addition offered ALGO support on Coinbase.com and in the Coinbase Android and iOS applications. In so doing, the exchange allowed its users in all supported regions to buy, sell, convert, send, receive, or hold the coin.