At this point, they are going to have to…
Today, Coinbase (NASDAQ: COIN) announced the launch of a new platform, “Coinbase Asset Hub.” The goal of Coinbase Asset Hub is to make it as easy as possible for digital asset “issuers to list their assets and do business with Coinbase.”
The platform basically serves as a tool that allows digital currency asset issuers to apply to get their coin or token listed on Coinbase.
We are proud to offer distribution power for issuers to potentially reach our more than 35 million verified users. Today, Coinbase supports trading for over 40 crypto assets on our exchange and Coinbase Custody supports over 90 crypto assets. Our directive is to list every compliant asset possible. Streamlining the listing process is step one.
And that is the part that makes absolutely no sense to me and leads me to believe that Coinbase is going to have to list BSV before the end of the year.
Every compliant asset possible?
Bitcoin SV is compliant and it always has been. If Coinbase’s directive was really to “list every compliant asset possible” BSV would have been listed on Coinbase a long time ago. If what Coinbase is saying about listing compliant assets is true, then they are going to have to list BSV–because if they do not, I would take the statement they made about compliant assets as false advertising.
The launch of Coinbase Asset Hub makes Coinbase akin to Binance. In my opinion, it is a move to establish dominance in the US digital currency markets by making sure that all tokens that could potentially be listed get listed on Coinbase and not another platform. Coinbase’s Asset Hub also acts as the first touchpoint for digital currency projects looking to become traded; this gives Coinbase an edge in regard to them obtaining information on a project that can be successful before other market participants can learn more about the project. At the end of the day, Coinbase launched Asset Hubs to help themselves, not to help digital asset issuers reach a larger audience.
On the bright side, Coinbase Asset Hub paves the way for all of the coins and tokens created on BSV to easily be released to the public. But before we reach that point, we are going to have to wait and see if and when Coinbase lists BSV.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.