“Coinbase’s potential move into security tokens is significant because it is one of the most important exchanges in the cryptocurrency industry. To give you an idea of its, in May of this year, it had 20 million user accounts. That is about the size of Fidelity investments. It also has the largest cryptocurrency trading volume of any exchange in the U.S. New token listings on Coinbase lead to massive rallies in the price. This happened last December with Bitcoin Cash and more recently with Ethereum Classic. Even the speculation of a potential listing could be enough to impact price. For example, Ripple’s XRP rallied at the beginning of the year on speculation it could be listed.”Moreover, the President of Coinbase, Asiff Hirji, last month is noted to have said:
“Ultimately, we can envision a world where we may even work with regulators to tokenize existing types of securities, bringing to this space the benefits of cryptocurrency-based markets — like 24/7 trading, real-time settlement, and chain-of-title.”See more for yourself, here. This is big news for Coinbase and thus, is one to watch throughout the week. Any new announcements made by the company are sure to ease the markets along and thus, this is something we are very excited about.