Coinbase updating coins: Three days ago the largest cryptocurrency exchange operating in the United States announced that it is exploring five new cryptocurrencies to add to its platform, including Stellar (XLM) and Cardano (ADA).
Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). https://t.co/qoECyR0V1f
— Coinbase (@coinbase) July 13, 2018
Coinbase Updating Coins? Stellar (XLM) and Cardano (ADA) Take Center Stage
Is Coinbase updating coins? In the company’s Medium Post, Coinbase announced that they would be exploring the following assets:
- Cardano (ADA)
- Basic Attention Token (BAT)
- Stellar Lumens (XLM)
- Zcash (ZEC)
- 0x (ZRX)
Coinbase addressed that is still in the process of adding Ethereum Classic (ETC) to its platform. The company also explained that the assets listed above will require “additional exploratory work” and it cannot guarantee that these coins will be listed for trading.
Coinbase’s statement explains:
“As part of the exploratory process, customers may see public-facing APIs and other signs that we are conducting engineering work to support these assets. While we cannot commit to when or whether these assets will become available at this time, we will provide updates to our customers about the process and what they can expect via the Coinbase blog and Twitter.”
The major cryptocurrency exchange is making a push towards transparency, as in the past there have been many ‘speculations’ as to what coin will be added next to its platform. The company wants to get in front of these rumors from the start and will be making similar announcements moving forward about any assets it’s exploring.
Ripple (XRP) Rumors Put to Rest
The fact that Coinbase is exploring Stellar (XLM) over the higher ranking Ripple speaks volumes as to the company’s stance on the digital asset. Stellar and Ripple were both co-founded by Jeb McCaleb and have identical structures.
The only difference? Target audience.
Ripple is geared towards larger financial institutions whereas the Stellar Foundation seeks to service everyone – more specifically the unbanked.
There have been endless rumors in the past about Ripple (XRP) being added to Coinbase, which have boosted XRP’s price on numerous occasions but this latest announcement makes it clear – it isn’t happening.
How do you think @Coinbase is looking to compete with Ripple. One is an Exchange & trading platform the other is an international payments and network effects company. What is clear is @coinbase has an agenda against @xrp
— Roger McCarthy (@rog_mccarthy) July 13, 2018
It still remains unknown what the exchange has against Ripple Labs, but we know for sure we won’t be seeing it on the Coinbase platform anytime soon.
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