Coinbase is the largest name when it comes to North American cryptocurrency exchanges. The platform, in the past, was known for its selective approach: for allowing only a few names to be traded on their platform. Bitcoin, Ethereum, Litecoin were the primary three, followed by Bitcoin Cash and Ethereum Classic. Since then, the company has been open about adding more names to the list - and in their latest blog post, Coinbase has said they are exploring the possibility of adding 30 more names - including Ripple (XRP).
Earlier this year, Coinbase had announced that it plans to list ERC-20 tokens, following which BAT, ZRX and ZEC were listed on to the platform. ZCash (ZEC) is the latest name to be listed on to Coinbase, as this listing came earlier this week. More names are expected to be added soon in the near future.
Ripple’s exclusion from Coinbase so far had raised quite a few eyebrows. Questions had been raised in the past as to why Coinbase had shied away from listing XRP even after its incredible 36,000% gain early in January. A number of rumours were also making round back then that Coinbase might be adding Ripple. However, Coinbase had maintained their stance stating that there are no plans to add Ripple to the platform anytime soon. It looks like the company has finally made up its mind regarding XRP.
Ripple isn’t the only name that Coinbase is considering adding to their platform. Here’s a complete list of currencies (in alphabetical order) that Coinbase is planning to list over the months to follow:
Cardano (ADA), Aeternity (AE), Aragon (ANT), Bread Wallet (BRD), Civic (CVC), Dai (DAI), district0x (DNT), EnjinCoin (ENJ), EOS (EOS), Golem Network (GNT), IOST (IOST), Kin (KIN), Kyber Network (KNC), ChainLink (LINK), Loom Network (LOOM), Loopring (LRC), Decentraland (MANA), Mainframe (MFT), Maker (MKR), NEO (NEO), OmiseGo (OMG), Po.et (POE), QuarkChain (QKC), Augur (REP), Request Network (REQ), Status (SNT), Storj (STORJ), Stellar (XLM), XRP (XRP), Tezos (XTZ), and Zilliqa (ZIL).
Coinbase stated its vision behind adding new tokens to their platform, saying:
Coinbase’s goal is to offer support for all assets that meet our standards and are fully compliant with local law. Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap. To make this vision a reality, we evaluate prospective assets against our Digital Asset Framework to assess factors like security, compliance, and the project’s alignment with our mission of creating an open financial system for the world.
Coinbase also stated that while they are exploring the possibilities, nothing is guaranteed as of now. The company said that there are a number of things that need to be considered before the currency is added from a technical standpoint, as well as from the point of view of compliance guidelines. Moreover, Coinbase has also stated that some of these currencies might be available only for buying and selling - and not for transferring from one wallet to another. Further, some currencies might be made available on a jurisdiction-to-jurisdiction basis depending on the laws that govern the region.
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