Coinbase is easily one of the biggest and most popular exchange platforms in the market with over 9 million active users as recorded back in June of the current year. That means that getting a listing on this exchange always makes up for a huge deal for any cryptocurrency with added support.
Coinbase has listed dozens of different tokens and currencies over the time it first started with live trading operations, including almost all top coins in accordance with market capitalization, with the exception of Ripple (XRP), which was left out despite the fact that XRP is holding the spot of the third largest currency for quite some time now.
The situation of having Ripple XRP missing a listing on this exchange even created a small-capped drama where it was said that Ripple foundation even offered millions of dollars to Coinbase and Gemini exchange in order to acquire a listing on these prominent exchanges, however, the foundation representatives are dismissing this insinuation as nothing but a rumor.
Whatever the case regarding the case of Ripple XRP and Coinbase alleged listing drama, Coinbase has most recently added Ethereum Classic, helping it skyrocket against the fiat as well as rearrange their objectives regarding ETC and the network.
Additionally, Coinbase is changing their listing policy, so the question is what that means for Ripple and XRP?
Coinbase is changing the Listing Policy: Could it be the Green Light for XRP?
Besides from being known as one of the largest platforms with a wide range of users from across the globe, the San Francisco based exchange market is also known to have a very strict listing policy.
Even after announcing an initial listing of any currency, Coinbase takes weeks and months before it can officially confirm the listing as each candidate currency has to go through an extensive series of tests that are designed to confirm whether the currency is compatible for Coinbase support or not.
That is how Coinbase listings are considered to be exclusive with an average of 80% of gains coming in form of an organic price pump with each listing.
However, Coinbase is changing the listing policy as announced approximately a week ago in an official blog post published by Coinbase representatives.
The new policy allows for any currency to submit the request for listing themselves so that Coinbase can decide whether to add to the list of live trading coins or not, which will consequently result in having more currencies listed on this exchange.
So far, Coinbase, although one of the largest exchange platforms in the market, has a very limited list of trading coins, only offering trading and support for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and as of the recent case, Ethereum Classic (ETC).
So, basically with changing their policy Coinbase is hoping to expand the list of available currencies and tokens, that way advocating for more exposure of different digital assets, still sticking to their strict criteria although the listing request submission is now made available.
Since XRP is said to be interested in acquiring a listing on Coinbase, what this policy means for XRP?
Can Ripple Get to the Coinbase Listing after the Listing Policy Adjustment?
For now, the policy says that the submission requests for listings on Coinbase are made to be free of charge, while it is a case that this might as well change to prevent scam coins from submitting requests to the exchange.
Coinbase has already expressed their interest in some major assets like Cardano (ADA) and 0x (ZRX), however, they haven’t mentioned being interested in Ripple XRP.
But, since the policy is now changed to allow listing requests, Ripple foundation, if still interested, would be able to submit their request to Coinbase.
Each currency that goes on with submitting the request then has to go through the Digital Asset Framework, which is a test designed to determine whether the candidate currencies are eligible for getting a listing on Coinbase.
Within the framework designed to evaluate currencies, Coinbase is testing decentralization, scalability, technology, financial system, as well as the overall compatibility with Coinbase mission and values, before adding the currency as per the listing request.
In case Ripple foundation decides to give it a go and submit their listing request, XRP is to be tested before the official listing announcement from the Coinbase representatives. However, whether Ripple XRP is still interested in acquiring a listing on Coinbase or not, is not yet a clear case.