Coinbase launches new service “Asset Center”, opening the door to more crypto assets

San Francisco-based cryptocurrency exchange Coinbase has launched a new platform designed to help issuers list their assets more efficiently, and they may not need to go through the cumbersome listing process currently used by the company.

Surojit Chatterjee, Coinbase’s chief technology officer, said that Coinbase “Asset Hub” is a “simple and streamlined product for issuers to list their assets on Coinbase and conduct asset transactions.” He said: “Coinbase’s goal is to provide a single interface for digital asset issuers to manage the entire life cycle of their assets.”

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Coinbase CTO Surojit Chatterjee (image from Techcrunch)

The platform was launched on Thursday and will carry a robust evaluation process to ensure that each asset meets Coinbase’s legal, compliance and security requirements. In addition, the issuer can also start using the “asset center” by filling out a formal application.

The “Asset Center” requires the issuer to list the asset name and code and answer some questions about its products. Then, the applicant has to complete the compliance review process.

Some people in the industry believe that listing assets on Coinbase is 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 currencies into digital assets without first depositing Bitcoin (BTC) or Ethereum (ETH).

Although Coinbase regularly reviews cryptocurrency projects, it is not easy to list on the “asset center”. Currently, more than 40 assets have been listed. Its professional trading platform Coinbase Pro supports more than 90 assets.

For Coinbase, 2021 will be a very ambitious year. According to reports, Coinbase is in talks with Goldman Sachs to lead its initial public offering, and the company’s initial public offering is expected to take place later this year. In the past year, Coinbase has attracted tens of billions of dollars in institutional capital, highlighting the growing demand for digital assets by institutions.

Cource: Cointelegraph China

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