Finance

Coinbase to prioritize listing new cryptocurrencies while Binance faces further challenges

  • Coinbase has new plans to quickly add more assets to the exchange this year following Binance’s new regulatory troubles.
  • The major crypto exchange has expanded to Germany with a new license to offer its services in the country.
  • Brian Armstrong warns that while new listings will come soon, investors must evaluate their own risks.

Co-founder and CEO of Coinbase Brian Armstrong revealed that the firm aims to list every crypto asset in the market as long as the coins are legal. Armstrong urged investors to do their own research to evaluate the risks of each cryptocurrency, since a listing is not an endorsement. 

Coinbase takes on new opportunities

Coinbase has recently shown its dedication to allowing its users access to a wider range of cryptocurrencies, including Dogecoin. Although the leading crypto exchange expects to list more tokens, Armstrong has warned investors to take caution with investing. He said:

Outside of our listing standards (for safety/legality), we don’t offer an opinion on the value of each asset. We are asset agnostic, because we believe in free markets and that consumers should have a choice in the cryptoeconomy. This is how we’ll have the most innovation.

The CEO cautioned that listing a coin on Coinbase does not mean endorsement of the specific asset and that users should do their own research and exercise good judgment. 

According to Armstrong’s blog post, the cryptocurrency exchange would also serve the growing demand for DeFi products and services and non-fungible tokens (NFT), smart contracts, decentralized autonomous organizations and more. 

The Coinbase co-founder also mentioned that the firm would be sending more products to new international markets while working with regulators in more “established markets.” 

See also  https://www.dividendinvestor.com/52-week-high-low/

Coinbase is seeking to expand around the world, with its latest move in Germany, where it recently obtained a license to offer its services in the country. The Nasdaq-listed firm is now the first company to gain such a license in Germany, which allows the exchange to conduct proprietary trading of digital assets, according to BaFin. 

While Coinbase continues to add to its reach, its main competitor, Binance, has been facing regulatory challenges lately. The exchange headed by Changpeng Zhao has been banned in the United Kingdom, while the country’s Financial Conduct Authority stated that the platform could not conduct any regulated activity. 

View more information: https://www.fxstreet.com/cryptocurrencies/news/coinbase-to-prioritize-listing-new-cryptocurrencies-while-binance-faces-further-challenges-202106300204

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