Coinbase, the major cryptocurrency exchange, has announced a new platform to help issuers list their assets more efficiently and without having to go through the inconvenient listing process employed by the firm.
Surojit Chatterjee, the CTO of Coinbase, said that Coinbase Asset Hub is a “simple, streamlined product for issuers to list their assets and business” with the exchange.
He added:
“The goal is a single interface at Coinbase for digital asset issuers to manage the full lifecycle of their assets.”
It has been reported that the platform, which was introduced on January 14 (Thursday), will maintain a robust evaluation process to ensure that every asset meets Coinbase’s legal, compliance, and security requirements. Beyond that, issuers can get started with Asset Hub by filling out a formal application.
However, the application asks the issuer to list the asset name and ticker symbol, as well as answer a few questions about their product. Applicants are then taken through the compliance review process.
The report said that some in the industry consider a Coinbase listing to be the gold standard for cryptocurrency projects because it opens the door to tens of millions of investors. It also provides participants with an easy way to convert fiat money into digital assets without having to first deposit Bitcoin (BTC) or Ethereum (ETH).
Although Coinbase conducts periodic reviews of cryptocurrency projects, getting listed on the main Coinbase platform is not easy.
Currently, over 40 assets are listed. Its professional trading platform, Coinbase Pro, provides access to over 90 assets.
2021 is shaping up to be a highly ambitious year for Coinbase, as the firm is reportedly in talks with Goldman Sachs to help launch its initial public offering, which could be slated for later this year.
Thus, the platform has brought in tens of billions of dollars in institutional capital over the past year by highlighting the growing demand for digital assets.
Source: Cointelegraph