For a number of months now Coinbase has outlined its desire to be the exchange platform for cryptocurrencies.
That plan is beginning to take shape as Coinbase has announced that it will be adding several more notable cryptocurrencies to its platform.
“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. In practice, this means some new assets listed on our platform may only be available to customers in select jurisdictions for a period of time,” the company explained in a recent blog post.
What this essentially means is the time taken for Coinbase to verify the validity of a cryptocurrency before listing it on their platform would be greatly reduced. This would in turn give crypto traders more time to trade the commodity before the price reaches an astronomic level, as was the case with Bitcoin.
Coinbase’s previous slow vetting and loading process has meant that only five cryptocurrencies are currently listed on the platform – Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin.
As for what the new cryptocurrencies that Coinbase has lined up to add, remains to be seen, with no specific options listed at the moment.
It’s also unclear how much capacity the platform has in terms of the number of cryptocurrencies it can facilitate trades for.
Nevertheless Coinbase is one of the more reputable exchange platforms out there, so the move to add more currencies with greater frequency should be welcome news for those in the crypto game.[Image – CC 0 Pixabay]