Coinbase Exec. Unpacks the Industry Giant’s About-Face on Crypto Listings

Coinbase Vice President Dan Romero has given reasons behind the platform’s recent announcement that it is exploring support for dozens of new cryptocurrency assets, arguably in contrast to its long-cautious approach to supporting individual crypto tokens.

Speaking recently to Linda Shin on an episode of the Unchained podcast, he delved into the factors that predicated the unusual move, coming against a background of the platform’s historically conservative nature when it comes to adding new assets.

In response to a suggestion that Coinbase may be loosening its approach to add coins that are more experimental or less proven than the big names like Bitcoin, Litecoin, Bitcoin Cash, Ether, and so on, Romero stated that Coinbase is, in fact, revising its approach based on customer feedback and current developments in the regulatory space. According to him, the recent shift in strategy is particularly driven by customers who have overwhelmingly requested the addition of new cryptocurrencies to the platform.

Coinbase Adopts Customer-Driven Crypto Strategy

Coinbase has said it is exploring support for more than 30 new cryptocurrency assets, including ripple (XRP).

Explaining the reasoning behind Coinbase’s new strategic direction, Romero said:

“I think our plan now is to list as many cryptocurrencies possible within a compliant, legal constraints and also having information and quality signals easily available for customers so that they can kind of determine if a cryptocurrency makes sense for them.”

In reference to cryptocurrency’s ongoing pivot into a utility phase, Romero explained that in the event that customers decide to change their crypto holdings on Coinbase and it cannot offer them that service due to non-support for their cryptocurrency, they will only end up exchanging the assets on less secure platforms, which serves neither them nor Coinbase.

This he said, raises the need for Coinbase to recognise that that “the ability to switch cryptocurrencies is the core piece of functionality in the ecosystem.” Thus, he revealed, Coinbase now intends to list as many assets as they can legally do in as many jurisdictions as well.

Despite the SEC’s position on registering securities which creates a risk of listing a token that later turns out to be an unregistered security, Romero expressed confidence in the company’s legal and security procedures working in tandem with in-house checks and balances to ensure that this does not take place.

According to him, the company’s Digital Asset Framework has enabled Coinbase to develop an efficient process to ensure the quality bar and re-affirm the brand’s identity of “trusted and easy to use.” Among the fail-safes deployed in registering a new asset is the use of vetos by every team before an asset is added to the platform.


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Author: David Hundeyin
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The Future Stellar Lumens [XLM] $1.00 Prediction Turning Visible

In the case of businesses dedicated to facilitating payments between individuals, the choice of which blockchain to use and which fintech to hire is of vital importance for their growth. However, the relationship between crypto and fiat based fintechs has concluded with a growth in exposure of digital currencies.

When it comes to banks and firms that attempt to adopt blockchain based solutions for processing cross-border transactions or various types of payments, XRP and Stellar take the spotlight with no mercy.

The marketing strategy which Stellar follow is based on growing its partner-list so its payment transferring tech is used and utilized by a wider reach. The platform is on constant development to bring the architecture required for expansion.

By no doubt, the native token’s price [XLM] is impacted by any firm advancement or asset support that exchanges bring.

None other than the leading cryptocurrency exchange platform Coinbase is staying behind its mid-July teasing twitter post of exploring 6 assets.

Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX).

Two of the six coins have already welcomed the support from CB in the past weeks and knowing that its only the beginning of November, it could be a matter of weeks before the exchange delivers much awaited news for the other remaining four.

October 16th, 2018 – via their official twitter handle Coinbase launched ZRX [0x] on Coinbase.com and on the Android and IOS applications too.

Two weeks after – November 2nd, 2018 – the San Francisco based cryptocurrency exchange of Coinbase Pro has announced that it has successfully added Basic Attention Token (BAT) onto its platform.

After 1pm PT on Friday, November 2, we will begin accepting inbound transfers of Basic Attention Token (BAT) to Coinbase Pro.

We will accept deposits for at least 12 hours prior to enabling trading. Once sufficient liquidity is established, trading on the BAT/USDC order book will start.

Users may convert their USD to USDC with one click within the Pro interface as described here. BAT trading will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York.

Please also note that BAT is not yet available at Coinbase.com or in our iOS and Android apps. We will make a separate announcement when that occur – announcement blog post

Since the event, the pair BAT/USD has experienced a stellar bullish run reaching 14.03% gain only in the last 24-hours being the highest among leading coins. This could be only the beginning for the days ahead.

Reflecting on Stellar XLM – keeping in mind that the speedy coin is the sixth largest coin by market capitalization its community support is possibly of higher scale and the exchange’s support impact will be of no doubt game-changing for any XLM HODler. Following the major drop that took place on 29th of Oct, Stellar is among the coins which had a better recovery and weekly placement including BCH and XRP.


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Author: Alex Tomzack
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