Coinbase, the San Francisco-based cryptocurrency exchange, announced a new platform designed to help issuers list their assets more efficiently – and possibly without having to go through the tedious listing process currently used by the ‘company.
Coinbase Asset Hub is a “simple, streamlined product for issuers to list their assets and activities” with the exchange, said Surojit Chatterjee, CTO of Coinbase. “The goal is a single interface at Coinbase for digital asset issuers to manage the full lifecycle of their assets,” he said.
The platform, which was introduced on Thursday, will maintain a robust assessment process to ensure that every asset meets Coinbase’s legal, compliance and security requirements. Beyond that, issuers can get started with Asset Hub by completing a formal request.
The app asks the issuer to list the asset’s name and ticker symbol, as well as answer a few questions about their product. Candidates are then guided through the compliance review process.
Some in the industry consider a Coinbase listing to be the gold standard for cryptocurrency projects, as it opens the door to tens of millions of investors. It also offers participants an easy way to convert fiat currency into digital assets without having to deposit Bitcoin (BTC) or Ethereum (ETH) first.
Although Coinbase conducts periodic reviews of cryptocurrency projects, it is not easy to get listed on the main Coinbase platform. Currently, more than 40 assets are listed. Its professional trading platform, Coinbase Pro, provides access to over 90 assets.
2021 is shaping up to be a very ambitious year for Coinbase. The company is reportedly in talks with Goldman Sachs to help it launch its initial public offering, which could be expected later this year. The platform has brought in tens of billions of dollars in institutional capital over the past year, highlighting the growing demand for digital assets.