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The veteran US-based cryptocurrency exchange Coinbase is looking into adding 19 new digital assets onto its platform. Interestingly, the majority of the coins are representatives of the ongoing DeFi trend.
Coinbase Considers 19 New Coins
The largest digital asset exchange based in the US announced yesterday that itâs currently evaluating 19 new additions to its platform. Those are Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera, Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA, and WBTC.
Coinbase noted that âas part of the exploratory process, customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets.â
However, the company also asserted that although itâs examining these coins, it doesnât necessarily mean that all (or even some) of them will be indeed added. Each digital asset will have to comply with a comprehensive âtechnical and compliance review.â
âWe, therefore, cannot guarantee whether or when any above-listed asset will be listed on a Coinbase product in any jurisdiction. We will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations.â â reads the statement.
Nevertheless, Coinbase said that customers can expect similar announcements in the future. The companyâs ultimate goal is to allow clients to access âat least 90% of the aggregate market cap of all digital assets in circulation.â
DeFi Anyone?
Prior to this announcement, Coinbase said in mid-June that it was looking into listing another set of 19 coins. Itâs worth noting that most of the coins from the two statements were representatives of the decentralized finance (DeFi) field â the latest trend in the cryptocurrency space.
The interest in the DeFi sector has been rapidly growing for a few consecutive months. The statistic that exemplifies the rising demand arguably most accurately is the total value locked in DeFi. Ever since the TVL crossed $1 billion in late May/early June, it has been surging at a fast pace. As of now, it has jumped to over $4 billion, according to data from defipulse.
Total Value Locked In DeFi. Source: defipulse
As a result of the increased demand, numerous projects have become attractive to cryptocurrency exchanges for listings.
The post Coinbase Eyes Deeper DeFi Involvement, Considers Additional Listings appeared first on CryptoPotato.
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