Recently Coinbase came out with a blog post announcing a broad range exploration of assets. These assets include Cardano (ADA), Aeternity (AE), Aragon (ANT), Bread Wallet (BRD), Civic (CVC), Dai (DAI), district0x (DNT), EnjinCoin (ENJ), EOS (EOS), Golem Network (GNT), IOST (IOST), Kin (KIN), Kyber Network (KNC), ChainLink (LINK), Loom Network (LOOM), Loopring (LRC), Decentraland (MANA), Mainframe (MFT), Maker (MKR), NEO (NEO), OmiseGo (OMG), Po.et (POE), QuarkChain (QKC), Augur (REP), Request Network (REQ), Status (SNT), Storj (STORJ), Stellar (XLM), XRP (XRP), Tezos (XTZ), and Zilliqa (ZIL).
Not all will be available for everyone
Coinbase explained that not all assets would be available for everyone. That highly depends on the law of the specific jurisdiction. “Some of these assets may become available everywhere, while others may only be supported in specific jurisdictions,” they say in their blog post. They are working closely with local banks and regulators to add these assets in as many jurisdictions as possible. Also, some assets might be only available for hodling, they reveal in their post, saying that “our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet.”
This decision by Coinbase comes not precisely as a surprise, but it raises a specific question. Does Coinbase know something that we don’t know? Why explore the addition of these assets only now? Of course, “now” is a stretched term, and they already announced this in September, but all of these assets have lost more than 90% of their all-time high value. Is Coinbase discretely signaling of a bull market approaching?
“Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap.”
Isn’t this a little late? Multiple services are offering this already, so what would set Coinbase aside from them? However, the motivation is bright for this, the market is getting larger, and people want to hold their assets in one place. On the other hand, this could have been a great feature last year, during the ICO craze.
As reported previously, Coinbase first added the support of Basic Attention Token (BAT). Then without notice, they added 0x (ZRX), and just recently, Coinbase added Zcash (ZEC) to their multiple platforms.