Coinbase Consumer vice president and general manager Dan Romero appeared on CNBC’s “Fast Money” Tuesday and announced changes to the company’s listing process that could result in a dramatic increase in the number of digital assets Coinbase customers can access and trade on the platform. The move is part of what Romero described as the company’s shift “to a more global perspective.”
Romero cited the global nature of the cryptocurrency phenomenon and the many emerging use cases in the space as a motivating factor for the company’s desire to adopt a more global outlook. The new listing process is designed to expand Coinbase’s digital asset offerings and transform the company into a global platform.
At present, Coinbase lists only five digital currencies: Bitcoin, Bitcoin cash, Ethereum, Ethereum Classic, and Litecoin. Meanwhile, there are thousands of other digital currencies that aren’t listed by the Coinbase exchange. That could change as the new policy takes root in the months and years to come.
The new listing process now enables cryptocurrency creators to submit a listing application for their digital currency on listing.coinbase.com. That means that those crypto companies no longer need to wait for Coinbase to approach them with a listing offer but can proactively work to get their coins listed on the exchange.
The company is also loosening its restrictions on those coins. In the past, Coinbase vetted each listed coin to ensure that it complied with U.S. regulations. The new policy will see assets listed on a regional basis, with consideration given to each region’s regulatory landscape.
Romero said that the moves are designed to keep the company competitive and expects trading volume to increase as more assets are listed. He believes that the influx of new asset listings will help Coinbase compete with global crypto exchanges, and noted that it’s something that customers want:
"It's responding to what customers want. Adding more assets is directly something customers are telling us. So, ultimately, by adding more assets, we are going to increase trust and make the platform easy to user for customers.”