Coinbase Mulls Over Listing 31 Coins Including XRP (XRP), Stellar Lumens (XLM)
The exchange would decide whether to list or not those cryptocurrencies after conducting a technical and compliance analysis.
US cryptocurrency market Coinbase has announced a plan for the possible addition of 31 new coins to its trading roster. Ripple’s XRP (XRP), Stellar Lumens (XLM), Cardano (ADA), NEO (NEO), and Tezos (XTZ) are among the projects under consideration, the exchange said on Friday.
Coinbase did not disclose when it would decide to support or not the new digital currencies. The coins would go through the new firm’s listing process, which includes weighting each crypto on a jurisdiction-by-jurisdiction manner, meaning that some assets might only be available to customers in select territories for a particular period. Moreover, the fresh rules allow anyone to submit new coins but the Coinbase did not reveal whether some of the 31 projects had been offered by their development teams.
Along with XRP, XLM, ADA, NEO, and XTZ, the list of virtual assets under examination includes EOS (EOS), OmiseGo (OMG), Golem Network (GNT), Civic (CVC), Zilliqa (ZIL), Augur (REP), IOST (IOST), Chainlink (LINK), Kyber Network (KNC), Dai (DAI), Status (SNT), Loom Network (LOOM), Aeternity (AE), Aragon (ANT), Maker (MKR), Decentraland (MANA), district0x (DNT), Enjin Coin (ENJ), Kin (KIN), Loopring (LRC), Mainframe (MFT), Po.et (POE), QuarkChain (QKC), Request Network (REQ), Storj (STORJ), and Bread Wallet (BRD).
“Adding new assets requires significant exploratory work from both a technical and compliance standpoint, and we cannot guarantee that all the assets we are evaluating will ultimately be listed for trading,” Coinbase explained 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.”
Stellar Lumens and Cardano were part of a Coinbase listing announcement from July along with Ox (ZRX), Zcash (ZEC), and Basic Attention Token (BAT). The latter three projects were added in previous months. Currently, Coinbase also supports trading in Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Ethereum Classic (ETC). The company joined Circle’s US dollar-pegged project USD Coin (USDC) and added the coin as a basic currency.
In September, Coinbase changed its listing rules due to a crypto community criticism over the unspecified support announcement for Ethereum ERC20-based tokens and the significant impact on ETC price in the period before adding the asset. The exchange reaffirmed its commitment to ERC20 projects again.