Coinbase exploring adding new assets to the popular exchange.

Posted on: July 14, 2018, by :
Coinbase is adding new assets

Johnny Kmetz, MS

Co Founder/ CSTO Biterra Capital

Friday, July 13 2018

We are exploring the addition of several new assets, and will be working with loal banks and regulators to add them in as many jurisdictions as possible.”

Coinbase announced today that they’re looking into adding the following assets to the Exchange:

Cardano (ADA)

Basic Attention Token (BAT)

Stellar Lumens (XLM)

Zcash (ZEC)

Ox (ZRX)

In an effort to exhibit transparency and garner support for future assets, the announcement comes at the same time they announced the intentions internally. The assets were selected based on criteria published in the “Digital Asset Framework” following the announcement published in March that Coinbase intends to support ERC20 tokens, with BAT and ZRX being the first of these tokens to gain support from the popular exchange.

The listing process will likely result in some of the mentioned assets to be available for users to simply buy and sell through transparent wallet addresses, without the ability to send or receive using a local wallet. A part of the exploratory process may result in public –facing APIs that will support the above mentioned assets. With new regulation being discussed and implemented almost daily, Coinbase also said that some of the assets will be available in other jurisdictions prior to being available in the U.S.

This is great news for Biterra. The Stellar lumens network will be implemented in the first gamefied financial transactions system, which is currently under development. Stellar is an open-source protocol for value exchange developed by Stanford CS professor David Mazieres, Graydon Hoare, and Jed McCaleb. Stellar’s consensus protocol is different from proof-of-work in that it allows and requires individual nodes to choose the set of other nodes they trust as a group, or “quorum slice” to give them accurate information about the state of the Stellar Network, allowing for the creation of “anchors” that can serve many useful functions. An important function that these “anchors” provide is the ability to create interfaces integrated with existing banks that follow Stellar’s compliance protocol.

Updates on this process can be expected via Twitter and the Coinbase blog. You can find the entire announcement here: http://www.blog.coinbase.com/

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