Cryptocurrency exchange Coinbase has announced a new platform for digital asset issuers called Asset Hub on Jan. 14. The platform will apparently allow digital asset issuers to list their new tokens on the biggest U.S.-based crypto exchange efficiently and easily. The asset hub platform could open the door for new digital asset issuers to get their tokens listed in a hassle-free manner.
Coinbase Invites Digital Asset Issuers for New Listings
Any digital asset issuer can now apply to Coinbase’s Asset Hub to get their asset listed. The digital asset issuers need to list the asset name along with the ticker symbol, as well as answer a few questions on their token. Applicants will then go through a compliance review process to either get approved or denied.
Coinbase has also ensured that for any new asset to get listed, a robust evaluation will be processed through Coinbase’s legal, compliance, and security requirements:
“We will continue to maintain a standard evaluation framework to ensure every asset we support meets our standards for legal, compliance, and technical security review. Issuers may be subject to regulatory approval in some jurisdictions and we, therefore, cannot guarantee whether or when any asset will be approved.”
Opening the Door for Digital Asset Issuers
Usually, to get listed on any centralized exchanges a very high fee needs to be paid. The process itself could also be very time-consuming. Hence, the new service opens possibilities to all those projects that cant access major exchanges due to higher costs.
As per the listing process, the exchange will require information on whether there is a company behind the token, whether the token is a security or not, with a certificate to be attached to the application for listing.
Coinbase is one of the most popular cryptocurrency exchanges with over $320 billion in total volume traded. The exchange currently supports over 40 digital assets. Meanwhile, its custodial service Coinbase Custody supports over 90 different crypto assets.