Coinbase launches new service "Asset Center" to open the door to more crypto assets

San Francisco-based cryptocurrency exchange Coinbase has launched a new platform designed to help issuers list their assets more efficiently, potentially without having to go through the cumbersome listing process currently used by the company.

Coinbase CTO Surojit Chatterjee said that Coinbase Asset Hub is a "simple, streamlined product for issuers to list their assets on Coinbase and trade their assets." He said: "Coinbase's goal is to provide a single interface for digital asset issuers to manage the entire life cycle of their assets."

The platform, which launched Thursday, will come with a robust assessment process to ensure that each asset meets Coinbase’s legal, compliance and security requirements. In addition, issuers can start using the Asset Center by filling out a formal application.

The Asset Center requires issuers to list asset names and codes and answer some questions about their products. Applicants then complete a compliance review process.

Some industry insiders believe that listing an asset on Coinbase is the gold standard for cryptocurrency projects because it opens the door to tens of millions of investors. It also provides participants with an easy way to convert fiat currency into digital assets without first depositing Bitcoin (BTC) or Ethereum (ETH).

Although Coinbase regularly reviews cryptocurrency projects, it is not easy to get listed on the "Asset Center". Currently, more than 40 assets have been listed. Its professional trading platform Coinbase Pro supports more than 90 assets.

2021 is shaping up to be an extremely ambitious year for Coinbase, which is reportedly in talks with Goldman Sachs to lead its initial public offering, which is expected to take place later this year. Coinbase has attracted tens of billions of dollars in institutional capital over the past year, highlighting the growing institutional appetite for digital assets.

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