Cryptocurrency exchange to include Ethereum-based tokens
Popular cryptocurrencies exchange Coinbase has announced it will be including Ethereum-based tokens on its platform.
Coinbase Inc. revealed it would be opening up the doors to the digital assets on its cryptocurrency trading network.
Support will roll out on its GDAX and Coinbase exchanges in the coming months.
Ethereum-based tokens are built using the ERC20 technical standard.
According to Etherscan website, there are currently more than 50,000 ERC20 token contracts.
Tokens created using the Ethereum standard include EOS, Qtum, OmiseGo, and Bancor.
At the moment, Coinbase only trades Bitcoin, Bitcoin Cash, E, her and Litecoin on its GDAX exchange.
The announcement on Monday stated that Coinbase hopes to “pave the way” for more assets in the future saying:
“This paves the way for supporting ERC20 assets across Coinbase products in the future, though we aren’t announcing support for any specific assets or features at this time.”
This news comes just three weeks after the SEC called for a crackdown on digital assets.
The U.S. Securities and Exchange Commission stated that platforms would need to register with the agency if they trade in digital assets that are securities.
Companies will need to either declare themselves a national exchange or apply to be exempt.
Coinbase says it qualifies for exemption from SEC registration because their exchanges don’t list assets that can be considered securities.
Coinbase crypto rumors
The internet is awash with speculation about which assets Coinbase will add next.
With their exchange being one of the most popular and easily accessible, the addition of a new cryptocurrency will surely send its value to the moon.
Perhaps one of the most frequently speculated cryptos thought to be added to the platform is Ripple.
Although, Coinbase themselves remain tight-lipped concerning future new inclusions, and often dispel any heated rumors.