Coinbase is exploring the possibility to add support for a new list of eight coins, including Dash that is currently the 15th largest cryptocurrency by market cap.
Up for consideration as potential new additions, according to Coinbase, are Algorand, Cosmos, Dash, Decred, Matic, Harmony, Ontology and Waves.
In its official blog post, the major US-based crypto exchange added that it couldn’t guarantee any of the assets mentioned would find a permanent place on its platforms.
Still, the coins up for review were surging, with Dash up nearly five percent at $112.77, Decred and Ontology were trading nearly six percent higher at $29.94 and $1.01 respectively.
What Lies Ahead for a British Fintech Industry Outside the EUGo to article >>
Coinbase said that it is working with local banks and regulators to make these new cryptocurrencies available for its customers in as many jurisdictions as possible, saying the process often requires “significant exploratory work from both a technical and compliance standpoint.”
Coinbase further sheds light on new listings
While other exchanges offer a more extensive selection of cryptocurrencies to trade, Coinbase has elected to proceed cautiously while regulators evaluate the legal status of the new assets. However, the company has had a string of recent announcements in a major push to attract crypto traders and grow its user base.
The latest addition comes as no surprise as the popular San Francisco exchange crafted a new asset listing policy earlier last year after getting itself into hot water when it began listing new coins on its platform. Coinbase said it took measures to ensure insiders did not have an early opportunity to trade on the news.
Coinbase was dogged by allegations of insider trading in late 2017 after it listed Bitcoin Cash, the Bitcoin fork. Since then, the exchange shed light around its policy by making listing announcements internally and to the public at the same time to remain transparent with its customers about support for future assets.