Coinbase has announced a new listing framework with the aim of adding “most digital assets that meets our standards and are compliant with local law.” They say:
“There are now thousands of digital assets of all types, including coins, tokens, forks, stablecoins, and collectibles.
One of our top customer requests is to add support for these new assets, and we have been determining how to do this in a secure and compliant way for those assets meeting our standards.
Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner…
Because listing announcements will become more frequent, we expect to publicly announce the addition of new assets only at or near the time of public launch across one or more Coinbase products.”
According to their new framework, a coin needs to have a network which is “public, decentralized, and enables trustless consensus.”
Ripple, therefore, may still be out of luck as its 21 validators are trusted with half of them being controlled by Ripple itself.
Yet most tokens would probably qualify, as well as a number of cryptos in the top 100. They’re already announced the next five probable listings , with Coinbase Custody further adding 39 cryptos, including XRP.
Coinbase’s aim is now to list any crypto they can, as long as it meets their criteria, presumably to compete with Binance and maybe even with decentralized exchanges.
For now Coinbase lists only bitcoin, ethereum, bitcoin cash, litecoin and ethereum classic, but according to the announcement that will become a lot more populated.
Something which may mean they will have to redesign their site, with the Silicon Valley based crypto exchange and broker to potentially further open more index fund type services.
They currently have one which bundles the five listed coins, but if they are to add many more they may provide more specialized crypto index funds, with Coinbase potentially becoming a one stop crypto shop.