The growth in popularity of cryptocurrencies has been forcing crypto exchanges like Coinbase, Binance, and several others to keep up with the demand. While exchanges are venturing into new markets across the globe, a few others have been onboarding different fiat as well as crypto. Recently, Huobi Global revealed that the Russian ruble was the latest fiat currency to enter their platform. Now, Coinbase seems to be steering people’s attention away from the constant outages to its latest initiative.
Coinbase Rolls Out Asset Hub
The San Francisco-based exchange managed to stay relevant throughout the year, with several developments, but the constant outages it faced during Bitcoin’s most volatile stages, caused a commotion. However, the platform is out and about with its latest initiative. Coinbase in a recent blog post announced the launch of Asset Hub. With this program, issuers will be able to list their currencies on to the exchange in a much easier way.
While the platform already entails over 40 cryptocurrencies and 90 cryptocurrencies on Coinbase Custody, with its latest platform, the exchange hopes to onboard more assets.
The Chief Product Officer of the crypto exchange, Surojit Chatterjee further wrote,
“It’s important for issuers to know we want to work with them and that our door is open. With that in mind, we are excited to introduce Coinbase Asset Hub — a simple, streamlined product for issuers to list their assets and do business with Coinbase.”
Retaining the goal to offer a single interface at the platform, it intends to allow issuers to accomplish the full lifecycle of their assets. Furthermore, the exchange reportedly aspires to aid its 35 million verified user base in gaining access to an array of cryptocurrencies.
Listing an asset on Coinbase was considered immensely beneficial. DeFi platform, Compound’s COMP token is a substantial example. Despite the fact that the token had a steep fall, the initial growth or boost the token got from the listing stood out to the community.