Coinbase Prepares for Largest Crypto Asset Expansion in History

Coinbase has revised its listing policy, replacing the long and convoluted process of selecting cryptocurrencies and tokens with a simple procedure that will quickly expand the list of crypto assets traded on the exchange.

A new mechanism announced yesterday by the American platform allows any user to fill out an online application to evaluate a crypto asset for inclusion in the company's listing. Assets that meet the exchange's criteria can be added to the platform, but will not be available to all Coinbase customers.

Delays may be due to listings under the laws of a specific jurisdiction, rather than simultaneously worldwide, as Coinbase has so far practiced. As a result, some crypto assets will not be available to traders in countries where local regulators prohibit or restrict crypto trading.  

The lack of a robust listing application process has led some organizations to lobby Coinbase to back their assets. The innovation will significantly facilitate communication with crypto-asset developers, increase the diversity of offered trading pairs on the platform and allow the exchange to become a two-way marketplace.

The Coinbase team is now actively communicating with asset developers, establishing two-way communication. To avoid creating unnecessary barriers for them, Coinbase minimizes the fee for listing approved assets. The cost of services is not advertised, but it is not expected to be very high. Additionally, the application fee is only to prevent spam, and the listing fee will cover the cost of necessary asset checks. 

The main conditions for accepting an application to add an asset:

Technical safety and innovation.

Liquidity, market demand.

Legal and regulatory compatibility.

If the first two criteria are simple and understandable in assessment and execution, then meeting the conditions of a specific jurisdiction is not such an easy task. The company is taking steps to comply with local laws; these requirements vary from jurisdiction to jurisdiction, so many open questions remain.