About 17 new crypto assets could soon be listed on Coinbase depending on how the technical and compliance review goes.
Among the cryptocurrencies that Coinbase is considering for listing include coins that are yet to launch such as Gram that is fronted by messaging platform Telegram and Chia which was founded by the creator of torrent client BitTorrent, Bram Cohen.
The other coins are Avalanche, Celo, Coda, Dfinity, Filecoin, Handshake, Kadena, Mobilecoin, NEAR, Nervos, Oasis, Orchid, Polkadot, Solana and Spacemesh.
The listing of the new crypto assets, will be reviewed on a “jurisdiction-by-jurisdiction” basis to ensure that the various regulatory requirements are met.
Currently, the crypto assets that are listed on the regular Coinbase platform include stablecoin coin USDC, bitcoin, bitcoin cash, Stellar Lumens, Ethereum, Ethereum Classic, Litecoin, BAT and XRP.
The announcement comes a day after Coinbase announced support for the Dash cryptocurrency on its mobile apps as well as its Coinbase.com website.
However, users in the state of New York and the U.K. will not be able to buy, sell, convert, send, receive, or store the DASH crypto. Other restrictions include the fact that the exchange will not support the privacy features of the Dash cryptocurrency:
Dash is a cryptocurrency optimized for payments that has optional speed and privacy features. At this time, Coinbase will not support these features.
This is possibly to allow Coinbase to meet regulatory requirements. Last month the U.K. arm of Coinbase was reported to have dropped support for privacy coin Zcash. This was after its banking partner Barclays cut ties forcing Coinbase to seek an alternative financial institution allegedly over the fact the exchange had listed the privacy-focused coin.
Though it has come to be taken for granted that a cryptocurrency will rise in value once it gets listed on a major exchange, Dash’s appreciation on Wednesday coincided with major moves up by a significant number of altcoins leaving it unclear whether the listing had any effect on the price.
Still the privacy coin rose by approximately 17% from a low of about $90 to a high of around $105 on the day the U.S.-based exchange announced support. It has since then fallen by around 7% to about $97.
Last modified: January 10, 2020 2:49 PM UTC