Key takeaways:
- Coinbase has listed six new tokens (exclusively as ERC-20 variants) on December 8
- Coinbase and Coinbase Pro users can now trade, store and transfer IDEX, MCO2, POLS, FOX, SPELL, and SUPER.
- Coinbase is rapidly expanding its catalog of supported digital currencies, which grew from just six in 2018 to over 100 today
Coinbase, one of the larger cryptocurrency exchanges, has expanded its repertoire of tradeable crypto assets by adding support for IDEX (IDEX), Moss Carbon Credit (MCO2), Polkastarter (POLS), ShapeShift FOX Token (FOX), Spell Token (SPELL), and SuperFarm (SUPER).
Trading markets for the freshly listed tokens are already open
Trading, sending, receiving, and storing the newly launched coins has been available to Coinbase and advanced trading platform Coinbase Pro customers since December 8. Keep in mind that there could be some regional limitations at play, so make sure to head to Coinbase’s Asset Directory page to learn about potential restrictions on a per-country basis.
Here’s a quick overview of the newly listed coins (please note that only ERC-20 versions of the new tokens are currently supported):
- IDEX (IDEX) – ETH-based token with robust staking capabilities powering the IDEX decentralized exchange.
- Moss Carbon Credit (MCO2) – ETH token powering innovative carbon offsetting blockchain platform that uses token burning to finance land purchases in the Amazon rainforest.
- Polkastarter (POLS) – utility token of a premier decentralized cross-chain fundraising platform on the Polkadot network.
- ShapeShift FOX Token (FOX) – the native token of ShapeShift DEX, which sports powerful decentralized autonomous organizational (DAO) features to achieve high community engagement.
- Spell Token (SPELL) – the native token of Abracadabra.money platform that allows users to use crypto assets as collateral to mint MIM stablecoins in exchange for enticing rewards.
- SuperFarm (SUPER) – ETH token powering SuperFarm non-fungible token (NFT) marketplace.
For a more detailed breakdown of each token, click here.
Coinbase has for years been pretty stringent when it comes to listing new digital assets on its platform. For the longest time, the platform supported only six of the most well-established coins. This strategy came to a halt in September 2018, when the American publicly traded crypto giant announced significant policy changes and streamlined the new asset listing process. As a result, Coinbase now supports over 100 cryptocurrencies, ranging from industry staples such as Bitcoin (BTC) and Ethereum (ETH) to lesser-known altcoins such as 0x (ZRX) and Celo (CELO).
In early November, Coinbase rolled out a highly requested update to its cryptocurrency wallet solution, allowing customers to use it as a standalone browser extension without sacrificing any features. Coinbase Wallet users are able to access their NFTs, store and transfer more than 500 supported digital assets, and trade their crypto on various decentralized exchanges from the comfort of their internet browser.
Following the listing of the six new coins, Coinbase shares (COIN) gained 0.37% and are currently exchanging hands at $287.5, good for a $61.9 billion market capitalization.
