Coinbase , the largest crypto-purse in the United States, plans to support five new cryptocurrencies including Cardano (ADA), Basic Attention Token (BAT), Stellar (XLM), Zcash (ZEC) and 0x (ZRX).
https://twitter.com/coinbase/status/1017863343288115200
- coinbase
Coinbase adds new cryptocurrencies to its list
Coinbase is in talks with local banks and regulatory authorities to have the chips listed on its platform traded in many jurisdictions.
Although the company did not guarantee the support of the five crypto-currencies, the ADA, BAT, XLM, ZEC and ZRX prices increased by at least 10% following the announcement. of the new. Meanwhile, most digital currencies have not recorded any significant changes.
According to a statement from Coinbase on his blog:
"We are exploring the possibility of adding several new cryptocurrencies and will work with banks and local regulators to add them to as many jurisdictions as possible. Unlike the process of adding the Ethereum Classic, which is technically very similar to Ethereum, these crypto-currencies will require additional exploratory work and we can not guarantee that they will be listed for trading. "US traders and 32 other countries have the opportunity to trade four crypto-currencies for now. These are Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH). If the crypto-purse manages to add the other five altcoins, she could expand her list.
Some rumors have circulated about the possible addition of Ethereum Classic (ETC) and Ripple (XRP) but Coinbase has denied this assertion.
A strategic position
Digital currencies will be available on the Coinbase platform at a later date to be announced on the company's blog and Twitter account. Due to strict US regulations, they could be initially managed outside the country. However, new caveats accompany the additions. Some cryptocurrencies may not have a digital wallet on the site. Withdrawal and mailing options may be limited for Zcash for example. Virtual currencies focused on privacy and confidentiality are still at the center of concerns of regulatory authorities such as the SEC (Securities and Exchange Commission).Coinbase has expanded its jurisdiction by establishing an office in Japan, which gives it access to one of the largest crypto markets in the world. As the world's most regulated crypto-exchange , it has recently launched a range of institutional products, an index-based cryptocurrency fund, and holds a stake in the Paradex trading exchange.
Warnings aside, the move seems to be favorable for the cryptocurrency market . Especially since Coinbase is considered as the exchange service most closely related to the regulator of the industry . The integration of the ADA, BAT, XLM, ZEC and ZRX should boost the popularity, price and reputation of these altcoins.
What do you think about Coinbase extending its cryptocurrency list with Cardano (ADA), Basic Attention Token (BAT), Stellar (XLM), Zcash (ZEC) and 0x (ZRX)? Let us know in the comments below.