Coinbase recently opened doors for all kind of digital assets to get listed on their platform. After passing a security and legal review, any kind of digital asset would be able to list on the Coinbase platform. This might be a good news for companies and startups trying to get the reach that they envision for their token and currencies, but it stands as a controversial subject for crypto in general. Will this listing give the shit coins an opportunity to get their name on the world’s most notable crypto exchange?
Coinbase currently lists Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin. As it is named to be one of the best crypto exchanging platform for crypto, there have been multiple requests for the platform to list new assets to provide them access globally. Considering the rush of all the requests, Coinbase has finally decided to list new assets on their platform. They have recently announced their move in their blog post, where they explained the process through which one particular asset can apply and get listed on the platform.
The applicant can easily fill a google form on their website, and once it has passed through a procedure of legal and security reviews it would be listed on their platform. According to Coinbase, “digital assets of all types, including coins, tokens, forks, stablecoins, and collectibles” would be taken into consideration. The application form and the evaluation criteria would be constantly updated with time. Coinbase plans to have no application fee in the beginning, but with time, it is totally up to them if they plan to have an application fee. They would try to tell the reasons for the approval or rejection of an application of an asset to get listed.
Coinbase envisions to announce each listing at or near the time of the public launch. They stated that “while this is a change from our earlier process of pre-announcing far in advance, we will still announce early enough to allow for sufficient liquidity on our exchange and an orderly market bootup process.”
The question that arises is that is this open door policy going to allow the flow of shitcoins into the market with barely any utility? In this regard, Sam Ball, investor, speaker and the advisor of Nest Platform said talking to BlockPublisher that,
Hard to say at this stage, being able to apply doesn’t mean coinbase have to accept, for example I don’t think we’ll see Ripple on there despite lots of applications as it’s more likely to be in violation of securities laws than most other tokens.
Hope to see that with this introduction of the new application process, the assets that have been underrated but have great potential would open up to the world. Here’s the link to the application form.