Coinbase, one of the largest crypto exchanges in the world, published a post yesterday saying they have not made any decision to add any additional digital assets to either GDAX or Coinbase. The statement by Coinbase effectively squashed rumors that Ripple would soon be listed on the exchange.
In the follow up, Ripple, the second largest crypto by market cap, saw its valuation tank over 20%.
The Coinbase statement explained;
“We wanted to give our customers details about our process for adding new assets to our trading platform. Our mission is to be the most trusted and easy-to-use digital currency exchange. We believe sharing this process with our customers is an essential part of building that trust.
A few months ago we released our Digital Asset Framework which highlights our criteria for supporting new assets. You can read our framework here. A committee of internal experts is responsible for determining whether and when new assets will be added to the platform in accordance with our framework. These individuals — and all employees at Coinbase — are subject to confidentiality and trading restrictions. Coinbase will announce the addition of new assets only via our blog post or other official channels.”
The Digital Asset Framework was published in November of 2017. The Framework said that Coinbase expected the number of digital currencies would grow, and they would support this growth, but they would “add assets which align with this framework and promote [their] mission of creating an open financial system for the world.”
The Framework is embedded below.