When Will Coinbase Add New Coins? Soon, Says Crypto Insider
One of the biggest questions in the crypto world, is when will Coinbase add new coins?
According to Crypto Insider, the leading US-based cryptocurrency exchange may be adding new assets very soon.
The $1.6 billion crypto exchange has just applied for the licenses requited to run a fully-regulated financial business.
In an article posted on Wednesday, Coinbase president, and chief running officer, Asiff Hirji announced the acquisition of Keystone Capital Corp., Venovate Marketplace, Inc., and Digital Wealth LLC.
Coinbase acquired all three entities through their parent company, Key Acquisition, LLC, according to the firm’s spokesperson.
The three fintech business included credentials near and dear to Coinbase.
The acquisition gives Coinbase a broker-dealer license, an alternative trading system license (ATS), and a registered financial investment consultant (RIA) license.
“If approved, these licenses will set Coinbase on a path to offer future services that include crypto securities trading, margin and over-the-counter (OTC) trading, and new market data products,” Hiriji said in the post.
When will Coinbase add new coins?
As an industry-leading cryptocurrency exchange, Coinbase has been extremely sluggish when it comes to adding new coins.
The company has been hesitant to include new assets that may be considered a security by the Securities and Exchange Commission (SEC).
The SEC has yet to provide formal guidance about which digital tokens it prepares to control, though it has suggested that it will do so in the future.
Cryptocurrency exchanges, unlike comparable businesses in the monetary area, have actually remained unregulated in the United States, until now.
Some of Coinbase’s competitors, such as the world’s largest cryptocurrency exchange Binance, trade more than 200 various coins.
Presently, Coinbase trades just four of the top ten largest cryptocurrencies on the market: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
“The move not only reinforces Coinbase’s commitment to investing in decentralized infrastructure and participating in the nascent world of wallet-to-wallet trading but also our focus on the international crypto trader,” Coinbase CEO Brian Armstrong stated at the time.
At this point, there’s no known date when extra coins will be added to the Coinbase platform.
According to Crypto Insider, however, it will likely happen soon.