Coinbase CEO Brian Armstrong spoke about the exchange’s listing process on Twitter, saying that he wanted to add as many cryptocurrencies as possible, provided they meet the standards.
Coinbase CEO Brian Armstrong, speaking over Twitter, said that it was the exchange’s goal to list as many cryptocurrencies as possible. However, he added in a series of follow-up tweets, that it was still the exchange’s priority that these assets meet the standards set by Coinbase.
In addition to talking about listing standards, Armstrong also spoke of a new tool that would allow users to give ratings and reviews on assets, which he said would be implemented over time. This is to help the community make a better decision about their investments. As it adds more assets, the question of the quality of these assets is sure to pop up, so it’s likely that the tool will help keep users informed.
As one of the most popular exchanges in the United States, the listing of assets on Coinbase is a major development for the market. Token prices often surge following news of a listing, which normally begins with a launch on Coinbase Pro before moving to the retail variant of the exchange. Armstrong may have been alluding to this when he also said that a listing was not an endorsement of the asset, asking users to exercise good judgment.
Lastly, Armstrong tweeted about the Coinbase Asset Hub, where asset issuers have a streamlined process for getting their tokens listed on the exchange. The CEO admitted that Coinbase needs to “do a better job staffing up to engage with all asset issuers in a timely manner, and responding to people promptly.”
Coinbase now has over 60 assets
In the past 12 months, Coinbase has added several assets to meet the demand laid out by customers, who have often lamented that Coinbase has had a limited selection of assets. The exchange has tried to assuage those concerns with the listing of new assets, and perhaps Armstrong is restating the point about careful investment as the exchange plans to add more.
Since the start of 2020, Coinbase has been adding many new assets in different niches to meet this demand by users. One of its most notable recent listings was Cardano (ADA), which boosted the price of the ADA token up by 22%.
It isn’t always a drawn-out process to get listed on Coinbase, however. Ampleforth’s new FORTH governance token was instantly listed, even though AMPL wasn’t listed at the time. Tether (USDT) was another major listing that made headlines, unsurprising given that USDT is the most popular stablecoin.