Coinbase’ recent announcement that it was considering another 31 tokens for listing has created a lot of hype in the market, sparking a heated discussion.
Notably, Coinbase Vice President Dan Romero has shared the motive behind the recent announcement of enlisting tokens. He explained the factors impacting on the move. The exchange, Coinbase used to hold a conservative approach about adding new individual assets.
It was speculated that Coinbase would degrade its brand by adding tokens which are more experimental or less proven compared to crypto giants like Bitcoin, Litecoin, Bitcoin Cash, Ether etc. In response to these speculations, Romero said that the exchange is re-considering its approach depending on customer feedback and current developments in the regulatory space. The decision was largely due to customers who have requested the addition of new cryptocurrencies to the platform.
Talking more about the new strategy of the exchange, Romero noted, “I think our plan now is to list as many cryptocurrencies possible within compliant, legal constraints and also having information and quality signals easily available for customers so that they can kind of determine if a cryptocurrency makes sense for them.”
He also revealed that Coinbase now aims to list as many assets as they legally can in maximum jurisdictions. Additionally, he is quite confident regarding the company’s legal and security procedures, which operates in tandem with in-house checks and balances.
As Romero states, Coinbase’ Digital Asset Framework has made it create an efficient process to enhance the quality bar and re-affirm the brand’s reputation of “trusted and easy to use.”
Here, with the step to add dozens of new cryptocurrency assets, Coinbase’ strategy seems to take a leap from its previous public image of “crypto blue chip,” by having a broader inclusion in the market. The announcement of the addition received mix response from the community.
Remarkably, Coinbase is a massive firm of crypto exchange based in the US, having headquartered in San Francisco, California. Currently, its platform ‘Coinbase pro’ holds a trading volume of 24 hours around $46,984,579 which equals to 14,392 BTC.