Last Updated on
Crypto exchanges are continually expanding their offerings in a bid to create more trading options for their clients.
The number of cryptocurrencies in existence continues to grow as more applications for the asset class are being developed.
One of the leading crypto exchanges in the world, Coinbase, is looking to add more digital assets to its platform in the future.
Among the digital assets being mentioned as a part of the assets that will come to Coinbase’s platform is Telegram messaging app.
It is one of sixteen digital assets that are being considered by Coinbase as the exchange works towards expanding the offerings available to traders.
Expansion of tokens offered on Coinbase
Among some of the tokens that may appear on Coinbase in the future is Coda, Orchid, Avalanche, NEAR, and Spacemesh.
These digital assets are being considered with the aim of improving convenience on the platform and adding more value to the customer experience. The assets will only be added to Coinbase after the platform has made a careful analysis of the tokens.
Coinbase is on a mission to create an open financial system and adding these crypto assets to it’s listing would assist the platform in achieving its mission.
The financial system aspired for by Coinbase will enable people to access monetary facilities without the need to go through regulatory authorities or centralized banks.
To ensure that there is an open and accessible system, Coinbase has shifted from focusing on leading crypto assets such as Bitcoin and Ethereum to considering stablecoins, collectibles, and forks.
The reports of Coinbase’s possible inclusion of Telegram on its platform means that the platform may later be associated with the Telegram Open Network (TON) when it launches.
TON is a blockchain-based payment network which works on the Telegram messaging app. During its initial coin offering (ICO), TON raised $1.7 billion and it is one of the most anticipated blockchain projects of 2019. The token sold during the ICO is named GRAM.
There are several factors that Coinbase will need to consider before these digital assets can be added to its listing.
Some crypto assets may have certain characteristics that place them in violation of regulatory requirements in countries in which Coinbase operates.
There needs to be due diligence to ensure that none of the digital assets availed to traders violate the regulations guiding crypto trading.