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Crypto Platform Coinbase Investigating Support for New Assets as Part of Its Expansion Plan

Cryptocurrency exchange platform Coinbase recently announced that it is looking into providing support for eight new assets. This is in conjunction with the company’s plans to expand its services and give clients access to almost 90% of accumulated market financing of digital assets. 

News from Coinbase’s official blog.

The blog post stated that the crypto platform might release public-facing APIS and present additional indications of its engineering set-up during its exploratory stage. 

According to the Coinbase announcement, the company is presently researching support for digital assets like Algorand (ALGO), Decred (DCR), Cosmos (ATOM), Dash (DASH), Harmony (ONE), Matic (MATIC), Waves (WAVES), and Ontology (ONT). 

Data from Coin360 ranks Dash and Cosmos at numbers 15 and 20 on the list of largest crypto by market cap. 

The post also mentioned several disclaimers. This includes the clause that supports the previously mentioned assets are not certain in any specific jurisdiction. It also stated that assets not included in the list could be added in the future. 

Expanding to Distribute All Assets

Coinbase also claims that it ultimately wants to give support for at least 90% of the assembled market funding of all assets in the distribution for clients all over the globe. The company reportedly plans to achieve this through their Digital Asset Framework, which it utilizes to evaluate the key properties of prospective assets, like compliance and security. 

It was reported previously that Coinbase has already expanded its support to 50 new jurisdictions back in March. It has also included the USDC stablecoin for trade in 85 countries.

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