Cryptocurrency exchange Coinbase ready to support 18 new digital assets

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Posted on: June 11, 2020 6:39 pm EDT

The US-based digital currency trading platform is exploring new options to expand its offerings

One of the biggest exchanges and wallets in the cryptocurrency industry servicing the US is exploring the option of adding at least 18 new crypto coins to its platform. Coinbase announced that it is considering expanding its portfolio and among the tokens that are being considered are VeChain, Synthetix and DigiByte. So far, details about the timeline to have these new assets added hasn’t been revealed, but Coinbase said in a blog post on June 10 that the process requires “significant technical and compliance review,” as well as other regulatory approval.

The blog post also mentioned the addition of new assets like Aave (LEND), Aragon (ANT), Arweave (AR), Bancor (BNT), Compound Coin (COMP), DigiByte (DGB), Horizen (ZEN), Livepeer (LPT), NuCypher (NKMS), Numeraire (NMR), KEEP Network, and many others. However, it did clarify that it is not considering Siafunds (SF) to be supported by the platform. “We will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations,” the announcement stated. “Our customers can expect Coinbase to make future, similar announcements as we continue to explore the addition of numerous assets across the platform.”

One of the arms of the exchange, Coinbase Custody, which is in charge of the international institutional cryptocurrency holdings, accidentally announced that the stablecoin Tether (USDT) would be part of the token expansion in a tweet, but the post has since been deleted. The addition of all of these currencies to the Coinbase platform would most likely give the coins a boost – Cointelegraph reported that previously, when Coinbase announced the addition of Stellar Lumen back in March 2019, the token gained around 5.66% in just one day.