Coinbase crypto-exchange has more reasons to celebrate these days.
Federal regulators have approved that the exchange operates as a broker-dealer and this approval triggers that the platform will be able to provide blockchain-based coins that are classed as securities.
This is an additional functionality besides the platform allowing users to trade Bitcoin, Bitcoin Cash, Litecoin, and Ether.
In June, Coinbase received a broker-dealer license (B-D), an alternative trading system license (ATS), and a registered investment advisor (RIA) license through its purchase of Keystone Capital Corp., Venovate Marketplace Inc., and Digital Wealth LLC.
Coinbase can extend its services
All these have been approved, and Coinbase gained massive leverage to extend its services and support the crypto market by offering coins such as traditional financial assets.
“Ultimately, we can envision a world where we may even work with regulators to tokenize existing types of securities, bringing to this space the benefits of cryptocurrency-based markets — like 24/7 trading, real-time settlement, and chain-of-title,” Coinbase President and Chief Operating Officer Asiff Hirji stated. You can read the entire statement here.
Coinbase also plans to offer crypto securities trading, new market data products and margin and over-the-counter trading.
Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). https://t.co/qoECyR0V1f
Coinbase might list new cryptos, except XRP
Coinbase triggered a lot of agitation and excitement in the crypto space last week when it hinted that it might list some of the most popular cryptos Cardano, Basic Attention Token, Stellar, Zcash and 0x.
The news triggered something else besides excitement; it resulted in anger coming from Ripple fans.
It seems that the platform omitted XRP again from the potential new listing and this triggered lots of speculations claiming that the SEC could eventually classify XRP as a security. This would be bad because XRP would become untouchable by exchanges that don’t operate under the SEC.
Coinbase will have to take a few steps in order to comply with SEC regulations.