Sticking to its local law compliance policy, Coinbase announces the possibility of introduction of support for eight more digital assets to its existing list.
According to an official announcement on their August 5th the exchange stated they are exploring a few more assets to be made available to its user base. As America’s largest digital asset exchange, Coinbase, established in 2012, has signed up over 30 million users.
The new assets to be supported by Coinbase are Algorand, Cosmos, Dash, Decred, Matic, Harmony, Ontology, and Waves.
As per the blog post, the engineering team is working on API integration of these assets to the Coinbase platform to make them available to the public. It further stated that these assets are still under technical and compliance analysis and based on the local laws of a jurisdiction, the assets will be made available. The team has not shared any timelines of the incorporation.
If any digital asset does not get published due to jurisdiction restrictions, it would be put under the review process again rather than disqualifying the same. Currently, the Coinbase non-Pro interface supports Bitcoin, Bitcoin Cash, Ethereum, Zcash, Ethereum Classic, XRP, the Basic Attention Token, USD Coin, Stellar, 0x and Litecoin.
Coinbase is working to support 90% of the digital assets in the market currently but is very careful about the technical and compliance review before enlisting it. The exchange announced a new listing process in July 2018 according to which a form is required to be submitted about the asset which will be evaluated against the Coinbase digital asset framework. The process of evaluation will continue until the asset is published or disqualified.