Without any previous information, the US crypto exchange Coinbase, one of the most popular in the crypto industry, has announced the launch of a new service called Asset Hub, which will allow anyone to list a token.
Coinbase is introducing Asset Hub — a simple, streamlined product for issuers to list their assets and do business with Coinbase. Read more about Coinbase Asset Hub here: https://t.co/NOSAv8R0Lz
— Coinbase (@coinbase) January 14, 2021
Specifically, the Asset Hub service is a platform that will allow anyone to list their token on Coinbase and trade it with various pairs.
Listing on centralized exchanges
Usually, centralized exchanges have to approve – and often be paid very high fees for – a crypto or token before listing it. These procedures are completely arbitrary and time-consuming, e.g. a new token might already be listed after a few days, as in the case of the Uniswap (UNI) token, while others have to wait years before an actual listing.
Not surprisingly, in terms of content and asset diversity, Coinbase certainly doesn’t shine, as it has barely over forty listed assets, which is a very small number, especially when compared to other exchanges that have more than 200 crypto assets.
From the press release, we learn that Coinbase has so far traded a total of $320 billion and has 35 million verified users.
How does Coinbase’s Asset Hub work
Clearly, this does not mean that it is now possible to list anonymous tokens with this new service, because the procedure involves several steps and also requires legal information about the project. Coinbase requires information on whether there is a company behind the token or not, and also asks whether the token is a security or not, with a certificate to be attached to the application for listing.
In any case, it is certainly an interesting service that could open the doors to all those projects that do not have the possibility to access the major exchanges because of the high costs involved.