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San Francisco-based Coinbase exploring the addition of 8 new digital assets

Biraajmaan Tamuly

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In an Ask Me Anything [AMA] session back in July, Coinbase CEO Brian Armstrong had explained to the community about how the San Francisco-based exchange aimed to expand the crypto-industry as a whole over the next 5 years.

Coinbase’s latest blog post suggests that the exchange is already making some progress in the matter. The exchange is reportedly considering adding eight new cryptocurrencies namely, Algorand, Cosmos, Dash, Decred, MATIC, Harmony, Ontology and Waves.

According to the blog post, potential assets will have to abide by the required regulatory laws, while meeting the technical standards of the exchange. The exchange further aims to provide access to its customers all over the world  to “at least 90% of the aggregate market cap of digital assets in circulation.”

Coinbase is currently available in about 103 countries all over the world and lists over 21 coins, excluding the recent addition. The blog post also suggested that the addition of potential currencies by the exchange would require these currencies to be assessed against the exchange’s Digital Asset Framework. The evaluation would mainly focus on security and compliance aspects.

The exchange also asserted that jurisdiction played a major role in the listing of these assets, indicating that the exchange would not be able to vouch for all the assets listed in any jurisdiction. The blog post read,

“As per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations. The omission of assets from this publication does not disqualify any asset from active review and potential listing.”

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.