Share This Post

Breaking News / Exchanges

Are ERC20 Tokens Next To Be Added To Coinbase?

Coinbase is a well-known name within the cryptocurrency industry. Coinbase is a popular exchange which brokers exchanges within Bitcoin, Bitcoin Cash, Ethereum, and Litecoin, alongside FIAT currencies.

Despite its limited exchange options, Coinbase is one of the biggest exchanges around, serving 190 countries worldwide.

Getting listed on Coinbase is a huge target for many alt-coins, as a listing would see trading volumes rise exponentially, as of November 2017, Coinbase has over 130,000,000 users, a number that is rising continually.

Crypto Rocko has produced a video that speculates on which coins might be added to the exchange next, in light of an interview with Coinbase President Asiff Hirji with US news channel CNBC.

You can see the video and the interview for yourself here- https://www.youtube.com/watch?v=lkFkXWjihyc

Hirji says that Coinbase want to invest in new businesses and not tokens specifically, they want to ‘help the eco-system mature’, when asked which coin will be added next, Hirji states that he can’t mention any coins specifically. Coinbase is a clean and law-abiding exchange that won’t list things that are under regulatory uncertainty. He mentions that Coinbase therefore struggles to list various alt-coins as a result of their uncertain future.

Coinbase will list more coins this year, provided they are granted, regulatory certainty.

There has also been reports that ERC20 coins may be next in line for a spot on Coinbase, therefore this would include coins such as Stellar, EOS and TRON and discount coins such as Ripple XRP, an entity that has been heavily linked with Coinbase of late.

It sounds like two things are happening here, firstly Coinbase want to support start-ups, but secondly, Coinbase only want to deal with companies that have full legal consent, essentially meaning it would be unlikely for Coinbase to be dragged into a legal debate for facilitating fraud, money laundering etc. I think this is a fair parameter to set.

The secondary rumours about ERC20 token support definitely puts a spanner in the works for Ripple XRP, but this does not mean that Coinbase will only add ERC20 tokens, it just means that they look to be supporting them in the future, XRP could still be a contender.

Either way, this looks promising in that Coinbase seem to have a plan for adding a new wave of alt-coins onto their exchange. I think they understand the power that they have in that the coins they choose to list will see dramatic changes in how they operate, mainly in how many people engage in the currencies and ultimately, in the overall value and market cap of the currencies.

As regulations tighten up and currencies clean up their appearances, expect Coinbase to become a much bigger part of the alt-coin community.


Share This Post