Coinbase is currently exploring the addition of 18 new digital assets, which include DeFi tokens such as Aave, Bancor, Ren, VeChain, Aragon, and DigiByte. The company said that its users could expect more announcements like this in the near future as most of the tokens it mentioned showed growth between 8 and 25 percent in the past several hours.
Coinbase mulls expanding the list of tokens it supports
One of the largest cryptocurrency exchanges in the U.S., Coinbase, could be adding a significant number of new tokens to its platform, a move that would enable the company to grab an even bigger part of the U.S. market.
According to the company’s announcement, Coinbase is exploring the addition “of a range of new assets,” which include 18 DeFi tokens. The announcement warned users that the “exploratory” process required to list such tokens could result in public-facing APIs and other signs of engineering work being done on the platform.
The new assets include Aave, Aragon, Arweave, Bancor, COMP, DigiByte, Horizen, Livepeer, NuCypher, Numeraire, KEEP Network, Origin Protocol, Ren, Render Network, Siacoin, SKALE Network, Synthetix, and VeChain.
No indication as to when a new asset will be added
While the possibility of these DeFi tokens being listed on Coinbase has certainly affected the market, will all of the 18 mentioned tokens growing between 8 and 25 percent in the light of the news, the company said that it was still uncertain whether they would get listed at all.
Listing tokens requires significant technical and compliance review, as well as regulatory approval in many U.S. states, Coinbase said. Therefore, the company can’t guarantee when any of the mentioned coins would be listed and whether they would be listed at all.
However, if any of these tokens are to be listed, it would happen on a jurisdiction-by-jurisdictions basis, in line with Coinbase’s listing process. The fact that only 18 tokens were mentioned in the announcement doesn’t mean the company will be focusing only on them in the process, it said in the announcement.
“Our customers can expect Coinbase to make future, similar announcements as we continue to explore the addition of numerous assets across the platform.”
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Source: Coinbase may list Aave, Bancor, Ren, Vechain, Synthetix and 13 other cryptocurrencies