Following Binance’s recent regulatory issues, Coinbase has announced new intentions to quickly add more assets to the exchange this year.
With a new permission to operate in Germany, the leading crypto exchange has expanded its offerings.
While additional listings are on the way, Brian Armstrong cautions that investors must assess their own risks.
Brian Armstrong, Coinbase’s co-founder and CEO, stated that the company plans to include every crypto asset on the market as long as the coins are legal. Armstrong advised investors to conduct their own due diligence to assess the risks associated with each cryptocurrency, noting that a listing is not a recommendation.
Coinbase has recently demonstrated its commitment to providing access to a broader spectrum of cryptocurrencies, including Dogecoin. Despite the fact that the biggest crypto exchange aims to sell additional tokens, Armstrong has advised investors to proceed with caution. He stated, ”
We do not provide a judgment on the worth of each asset outside of our listing guidelines (for safety/legality). We are asset agnostic because we believe in free markets and that consumers in the cryptoeconomy should have a choice. This is how we will achieve the greatest level of innovation.
The CEO stressed that Coinbase’s listing of a currency does not imply support of that asset, and that customers should conduct their own research and use care.
The cryptocurrency exchange would also fulfill the expanding demand for DeFi products and services, as well as non-fungible tokens (NFT), smart contracts, decentralized autonomous organizations, and more, according to Armstrong’s blog post.
In addition, the Coinbase co-founder stated that the company would be shipping additional products to new international markets while engaging with regulators in “existing areas.”
Coinbase is attempting to expand globally, with its most recent step being in Germany, where it has secured a license to offer its services. According to BaFin, the Nasdaq-listed company is now the first in Germany to obtain such a license, which allows the exchange to perform proprietary trading of digital assets.
While Coinbase continues to expand its reach, Binance, a competitor, has recently faced regulatory problems. In the United Kingdom, the Changpeng Zhao-led exchange has been outlawed, with the Financial Perform Authority stating that the platform could not conduct any regulated activity.
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