Christmas could come early for Stellar XLM holders if the recent update from Coinbase is anything to write home about. The Crypto exchange hit the headlines again after news that its policy has been amended to list more digital assets on time as opposed to the previous tedious process.
By fast-tracking new listings, Stellar XLM could be on the platform portfolio earlier than many enthusiasts thought. This has come through feedback from consumers that are pushing for more assets getting listed on the prestigious and regulated exchange. In tweet dates September 26, the exchange says:
“Today we’re announcing a new listing process that will allow us to rapidly add most digital assets that meets our standards and are compliant with local law, while providing our customers with the tools to discover, evaluate, trade, and use digital assets.”
However, the communication clearly states that listing new assets will depend on how compliant to local standards and set rules that will ensure the continued vision of the exchange.
Increased Consumer Demand for More Assets on Coinbase
Cryptocurrency and related product uptake has been on the rise and Coinbase appears to be overwhelmed by the demanding market. Speedy vetting and listing seems to have made the outfit change its policy to accommodate more in a speedy manner and tap into the increasing demand.
The new listing process comes at a time when several coins and assets are lined up for listing which has causes a lot of uncertainty and Stellar is one of those on the waiting list. However, the listing could come earlier that anticipated according to Coinbase:
“Our goal is to rapidly list all assets that meet our standards and are compliant with local law, while providing our customers with the tools to discover, evaluate, trade, and use digital assets.”
A post about the update was also posted on twitter social media and added:
Today we’re announcing a new listing process that will allow us to rapidly add most digital assets that meets our standards and are compliant with local law, while providing our customers with the tools to discover, evaluate, trade, and use digital assets
Coinbase Response to Growing Crypto-Sphere
In a recent interview, Dan Romero the GM and Vice Present at Coinbase agreed that the crypto industry is growing fast and to make Coinbase meet the demand, they will not be restricted to the top industry performers like Bitcoin and Ethereum; there is need to move and tap into the market and give the exchange a global reach and appeal:
“Ultimately, crypto is a global phenomenon. You have software developers and entrepreneurs around the world building products on top of crypto, and it’s unlocking a lot of use cases, particularly in emerging markets. I think we need to shift as a company to a more global perspective.”
Stellar XLM Long Wait for Coinbase Listing Nod
Stellar and other four coins have been on the Coinbase “suspense” list since July. Stellar, due to its market cap and recent partnerships stands a better chance to get listed ahead of its close competition, Cardano. However, the great news did not single out Stellar or any other coin as the first to get the nod.
However, market analysts are of the opinion that the exchange is focused on coins that have sound “use cases” and “tradeable”. However, the market has been left guessing as to which currency will be listed first and when since the exchange has not given any timeline nor mentioned a particular coin. The listing is set to be a boost for the listed coin in terms of visibility, value and traction.