Coinbase has announced that it has launched an asset listing process, by which digital asset issuers can submit their applications. In a post published on September 26th, Coinbase wrote that it currently supports BTC, BCH, ETH, ETC and LTC, but intends to add more cryptocurrencies in the future.
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. 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.
By doing this, Coinbase will ensure that the exchange meets safety and compliance standards. The listing process currently requires no application fees; however, Coinbase explained that it “reserve[s] the right to impose an application fee in the future to defray the legal and operational costs associated with evaluating and listing new assets.”
The application is created on Google forms and consists of ten pages:
Once an application has been submitted, it will be evaluated against Coinbase’s digital framework, while its status will be regularly updated. The exchange will also be adding digital assets which fit the digital framework, even if an application hasn’t been submitted.
The launch of the accepted digital assets will be announced “only at or near the time of public launch across one or more Coinbase products.”
Coinbase’s announcement immediately led to an increase in the prices of cryptocurrencies. With the exception of Tether, all the cryptocurrencies are in the green at the time of writing. Ripple (XRP) has increased by 17.89% and Stellar (XLM) by 5.73% in the last 24 hours.
Ever since Bitcoin dropped to $6,500 in June 2018, the price has fluctuated, seemingly at will. However, it always returns to around the $6,000 within a few days. At the time of writing, BTC is worth $6,400 and has a market cap of $111 billion.