- Coinbase has new plans to quickly add more assets to the exchange this year following Binance’s new regulatory troubles.
- The major crypto exchange has expanded to Germany with a new license to offer its services in the country.
- Brian Armstrong warns that while new listings will come soon, investors must evaluate their own risks.
Co-founder and CEO of Coinbase Brian Armstrong revealed that the firm aims to list every crypto asset in the market as long as the coins are legal. Armstrong urged investors to do their own research to evaluate the risks of each cryptocurrency, since a listing is not an endorsement.
Coinbase takes on new opportunities
Coinbase has recently shown its dedication to allowing its users access to a wider range of cryptocurrencies, including Dogecoin. Although the leading crypto exchange expects to list more tokens, Armstrong has warned investors to take caution with investing. He said:
Outside of our listing standards (for safety/legality), we don't offer an opinion on the value of each asset. We are asset agnostic, because we believe in free markets and that consumers should have a choice in the cryptoeconomy. This is how we'll have the most innovation.
The CEO cautioned that listing a coin on Coinbase does not mean endorsement of the specific asset and that users should do their own research and exercise good judgment.
According to Armstrong’s blog post, the cryptocurrency exchange would also serve the growing demand for DeFi products and services and non-fungible tokens (NFT), smart contracts, decentralized autonomous organizations and more.
The Coinbase co-founder also mentioned that the firm would be sending more products to new international markets while working with regulators in more “established markets.”
Coinbase is seeking to expand around the world, with its latest move in Germany, where it recently obtained a license to offer its services in the country. The Nasdaq-listed firm is now the first company to gain such a license in Germany, which allows the exchange to conduct proprietary trading of digital assets, according to BaFin.
While Coinbase continues to add to its reach, its main competitor, Binance, has been facing regulatory challenges lately. The exchange headed by Changpeng Zhao has been banned in the United Kingdom, while the country’s Financial Conduct Authority stated that the platform could not conduct any regulated activity.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.