On July 31, Coinbase announced a fresh list of 19 digital assets that are under review for listing. As a leading platform, Coinbase continues to explore new assets. Through this process, the exchange aims to provide its users with a gateway to 90% of the aggregate market cap of digital assets. This is the second asset exploration announcement of the year. Interestingly, once again most of the projects are from DeFi industry.
According to the official Coinbase announcement, 19 assets (mainly DeFi projects) being explored are:
- Band Protocol
- Ocean Protocol
- Paxos Gold
- Reserve Rights
- The Graph
Non-DeFi Assets (4)
- Flexacoin (supports DeFi too)
- Hedera Hashgraph
In their last announcement, 14 out of 18 projects were DeFi. However, this time 15 out of 19 are DeFi projects.
Decentralized Finance (DeFi) space is doing remarkably well lately. From July 1 to Aug 1, the Total Value Locked (TVL) in the DeFi space has gone up by 120%. Coinbase has clearly taken notice of the growing popularity of DeFi industry.
As part of the exploratory process, the exchange will assess the projects on parameters like security and compliance. Furthermore, projects will be listed only if their mission is to create an open financial system. If the project gets listed on Coinbase, the platform will conduct some engineering work to support the assets.
While the exchange continues to explore the new digital assets for listing, it seems the finally listing is taking longer than usual. On July 14, 2018, the exchange announced that it will explore listing ADA, the native token of the Cardano platform.
But to date, ADA has not made it to the Coinbase supported list of assets. In its official announcement, Coinbase emphasized that Cardano has long-term plans, a growing community, and has already shipped working projects.
Since then Cardano has achieved significant milestones like the recent Shelley hard fork that marks the starting of the Shelley era. But the exchange is yet to support ADA.
According to the recent reports, ADA may be listed on the exchange by the end of 2020. This is speculated because Coinbase custody recently announced that it will support ADA staking.