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Coinbase Releases List of 50 Cryptocurrencies to Launch in Q2

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Exchange Coinbase released a list of 50 new cryptocurrencies that will be listed on your platform. Of these, 45 are tokens that run on the ETH (ERC-20) blockchain, while another five operate on Solana (SLP format).

List of 50 Cryptocurrencies

The launches will be made throughout the second quarter, that is, between April 1 and June 30, 2022. However, Coinbase stressed that this is not an official listing of tokens. Thus, trades are not yet open on the platform.

“Transfers and trading are not supported for these or any other assets until a listing is officially announced. Depositing these assets into your coinbase account before an official announcement can lead to permanent loss of funds,” the exchange said.

The list brings the 50 cryptocurrencies in alphabetical order, divided between the ETH network and Solana. On ETH, the highlights go to two stablecoins: Binance USD (BUSD) and Gemini USD (GUSD). After all, these are cryptocurrencies issued by two major competitors of Coinbase – exchanges Binance and Gemini, respectively.

On the SLPs side, the biggest highlight is the Green Satoshi Token (GST), a utility token linked to the STEPN game. This token is earned when players run using their tennis NFTs and can be exchanged for in-game tennis items and upgrades.

Greater transparency

It is not common for Coinbase to announce such a broad listing of tokens in both quantity and time. Usually the company releases smaller releases, with tokens that are ready for trading.

According to the exchange, this change is intended to increase transparency in its listings by providing more information. That’s why Coinbase chose to perform a different test for the listings.

Rather than announcing cryptocurrencies that are already available, Coinbase disclosed “assets under consideration”. That is, cryptocurrencies that are in the exchange’s sights, but that will not necessarily be introduced on the platform.

The criteria that could lead to a cryptocurrency being excluded from this potential list were also disclosed. This deletion will occur if the cryptocurrency or token does not meet one of the three requirements below:

  • fails to meet minimum listing standards across legal, compliance and technical security;
  • if the exchange does not have sufficient information about the asset;
  • if technical integration work is required;

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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