In a move that could rapidly broaden the number of cryptocurrencies listed, Coinbase announced Thursday a new issuance portal called Asset Hub.
“Today, Coinbase supports trading for over 40 crypto assets on our exchange and Coinbase Custody supports over 90 crypto assets,” the firm’s chief product officer, Surojit Chatterjee, wrote in a blog post. “Our directive is to list every compliant asset possible. Streamlining the listing process is step one.”
Any asset issuer can apply, Coinbase said. Applicants then go through the process and either get approved or denied.
“We will continue to maintain a standard evaluation framework to ensure every asset we support meets our standards for legal, compliance, and technical security review,” Chatterjee wrote. “Issuers may be subject to regulatory approval in some jurisdictions and we therefore cannot guarantee whether or when any asset will be approved.”
Coinbase says Asset Hub will make it easier for token projects to access “35 million verified users.” The move comes ahead of a planned public listing for the crypto exchange, which was valued at over $8 billion way back in 2018.
Earlier this year, Coinbase rolled out an open-source technical framework for asset listings, called Rosetta.
“The unifying theme between Rosetta and Asset Hub is that these products both support issuers,” Senior Product Manager John Zettler told CoinDesk through a spokesperson. “We appreciate that the growth of the cryptoeconomy depends on the success of digital asset issuers, and we are committed to supporting issuers every way we can.”