Coinbase Has The Green Light to List Security Tokens
The San Francisco-based cryptocurrency exchange Coinbase Inc. has received authorization from the U.S. Securities and Exchange Commission (SEC) to list securities tokens.
Coinbase is already known for its involvement in legalizing crypto-related investments and distributing its services in an attractive way. Last month, Coinbase revealed that it plans to buy Californian financial company Keystone Capital Corp. in order to turn into an SEC-regulated broker vendor.
Coinbase COO Assiff Hiriji explained:
“Ultimately, we can envision a world where we may even work with regulators to tokenize existing types of securities, bringing to this space the benefits of cryptocurrency-based markets — like 24/7 trading, real-time settlement, and chain-of-title.”
After more than one month of waiting, the SEC together with the Financial Industry Regulatory Authority (FINRA) offered Coinbase the permission to acquire the aforementioned company plus two more: Venovate Marketplace Inc. and Digital Wealth LLC, reported Bloomberg.
Following the acquisitions of the three companies, Coinbase will be in possession of the “broker-dealer, investment advisor, and alternative trading system” licenses.
The U.S. The Securities and Exchange Commission will also be licensing the cryptocurrency exchange in supporting blockchain-related securities, a feature that will probably mix all Initial Coin Offerings (ICOs).
Coinbase is exploring the addition of five cryptocurrencies
The Californian company now has unlimited opportunities to “explore” new projects. Coinbase is currently “exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX).” Furthermore, Ripple (XRP) is likely to be listed within the trading platform, even if many suppose Coinbase avoids the largest crypto assets by market cap due to confusing discussions that implicate them.
With the new authorization and Coinbase’s Custodial feature revealed this month, Coinbase has the green light to follow its targets. The Californian cryptocurrency exchange is considered to be one of the most trustworthy platforms in the crypto sector.