Cryptocurrency

Coinbase Mulls Adding 30 New Cryptocurrencies

Coinbase Mulls Adding 30 New Cryptocurrencies

Coinbase, a platform that allows users to buy, sell and store cryptocurrency, said it is considering adding 30 new cryptocurrencies to its roster for trading, according to a report.

The company said it is looking at many different currencies, including Cardano’s ADA, EOS and Tezos. Following is a list of all the currencies the company is considering: Cardano, Aeternity, Aragon, Bread Wallet, Civic, Dai, district0x, Enjin Coin, EOS, Golem Network, IOST, Kin, Kyber Network, Chainlink, Loom Network, Loopring, Decentraland, Mainframe, Maker, NEO, OmiseGO, Po.et, QuarkChain, Augur, Request Network, Status, Storj, Stellar, XRP, Tezos and Zilliqa.

When Coinbase was founded in 2012, it was fairly selective about adding new currencies, but eventually changed that strategy. Since last year, the online exchange platform exclusively featured bitcoin, Ethereum, Bitcoin Cash and Litecoin.

Earlier this year, however, the company opened up its application process to virtually any company that wanted to join. This year, it added Ethereum Classic, 0x, USD Coin, Basic Attention Token and Zcash.

Coinbase has ambitious plans for cryptocurrencies. In July, the company told Bloomberg that the U.S. Securities and Exchange Commission (SEC) gave it the go-ahead to close three acquisitions that could potentially allow the trade of security tokens.

The company then bought out Digital Wealth, Keystone Capital and Venovate Marketplace, and reportedly gave the exchange the licenses it needs so that Coinbase can function as an investment adviser and broker dealer.

“Being approved to take ownership of these licensed entities is one more step toward our ultimate goal of allowing our customers to trade securities tokens on our platform,” Coinbase Communications Director Elliott Suthers told Bloomberg, with regard to the acquisitions. “There are many more steps and conversations needed with regulators before this journey is complete.”

The company changed its stance a few days later, however, saying the buyout had nothing to do with the SEC, and also that it didn’t need the SEC’s approval for acquisitions or the listing of tokens as securities.

“It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone, because SEC was not involved in the approval process,” said Coinbase VP of Communications Rachael Horwitz. “SEC’s approval is not required for the change of control application.”

——————————

NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

TRENDING RIGHT NOW