The cryptocurrency exchange Coinbase is reportedly “exploring” the idea of offering support for over 30 different cryptocurrencies. Among the possibilities are top altcoins such as Cardano (ADA), EOS, and Ripple (XRP) according to the latest report.
The Cointelegraph website reported that Coinbase has a list of 31 different cryptocurrencies. Some of the others included in the list are OmiseGo (OMG), NEO, Stellar (XLM), and Tezos (XTZ). Coinbase indicated in their report they plan to work “with local banks and regulators to add them in as many jurisdictions” as they possibly can.
Coinbase made it clear that just because a cryptocurrency was part of their list it didn’t mean that it is going to be added in the future. They indicated that some of the coins on the list could end up facing restrictions or they could simply decide not to list them after completing their evaluations.
Currently, Coinbase promotes five different cryptocurrencies, or altcoins, that they offer for trade. They are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ethereum Classic (ETC). Originally, Bitcoin, Ethereum, and Litecoin were the big three offered by the exchange as cryptocurrency reached its all-time highs heading into early 2018.
Just last month, they added Ethereum Classic and Zcash as options on the trading platform. Coinbase previously noted that they were using a new listing process so they can add digital assets quicker than they could before. Still, they said the digital currencies would need to comply with local regulations. Due to this, they may not offer certain digital assets for certain regions or jurisdictions.
The official Coinbase blog post outlines the 31 cryptocurrencies they are considering. It also has a number of comments from individuals, some of which are asking why Steem is not among the currencies the exchange is exploring.
So far, no explanation has been provided as to why they chose to explore specific currencies and not other popular choices such as Steem. However, Coinbase mentioned in their post that they are trying to offer customers “access to” more than 90 percent of “all compliant digital assets by market cap.”
In another story, the Coinbase Pro platform added support for several more ECR20 tokens including Civic (CVC), district0x (DNT), Loom (LOOM), and Decentraland (MANA). Coinbase indicated that customers could begin to transfer balances for these assets to their Coinbase Pro accounts. However, full trading was set to begin 48 hours from Friday’s announcement.
