Coinbase, in a big policy shuffle on Tuesday, announced that it has introduced a change in its Coin Listing policy. Effective from 25th September 2018, the new policy allows cryptocurrency creators to approach Coinbase directly and submit a request to list their token on the exchange.
In an interview with CNBC, Dan Romero, Vice President and General Manager of Coinbase Consumer, discussed the reason behind company’s decision to expand its accessibility for crypto creators all over the world. “Ultimately, crypto is a global phenomenon. You have software developers and entrepreneurs around the world building products on top of crypto, and it’s unlocking a lot of use cases, particularly in emerging markets. I think we need to shift as a company to a more global perspective” – said Dan during the interview.
What changes for a token creator, hereafter, is that instead of expecting Coinbase to approach them for coin listing, they can directly apply for the same through a newly added webpage on the official website of Coinbase. Once submitted, the application, which requires project-related information to be filled in, will be reviewed by Coinbase, and if approved, the corresponding token would find a place among the list of assets on Coinbase. However, Coinbase clearly mentioned that regional compliance is a must for any asset to be listed on its exchange, irrespective of whether it complies with US cryptocurrency regulations or not.
On a much wider note, the new policy enables many blockchain projects, unable to gain traction due to inadequate marketing experience and opportunities, to prove their competence before Coinbase. In other words, the decision allows promising early-stage blockchain startups to kick-off their journey. Clearly, the move by Coinbase, apart from greasing up the journey for blockchain startups, aims to expand the exchange’s reach from domestic to global level as well as avail users with a larger pool of digital assets.
“It (Coinbase) is responding to what customers want. Adding more assets is directly something customers are telling us. So, ultimately, by adding more assets, we are going to increase trust and make the platform easy to user for customers,” Dan added.
Coinbase is the most popular and among the largest cryptocurrency exchanges in US, with operations in 33 countries and a userbase of 20 million. Currently, it has listed 5 major tokens – Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ethereum Classic.