Coinbase To Support Dogecoin Amid Acceleration of New Coin Listings, Says CEO Brian Armstrong
Coinbase, the biggest crypto exchange in the US, has announced plans to list Dogecoin (DOGE) and “accelerate” new coin listings in the near future.
In the company’s first quarter earnings call, Coinbase chief executive Brian Armstrong confirms that the exchange will be listing DOGE as part of a plan to rapidly start listing more crypto assets.
“I think it’s going to be something, kind of, like apps in the App Store or on the iPhone where there’s eventually millions of these assets created over time and so we’re putting a lot of work and thought into how do we accelerate our pace of asset addition, and one of those is DOGE, as you mentioned, which has been getting a lot of attention recently. So, to answer your question directly, we plan to list DOGE in the next six to eight weeks. And then more broadly, we’re going to be focused on how we can accelerate asset addition in the future.”
Armstrong says there’s a number of different things the company has to look at before listing an asset, including cybersecurity, compliance, and regulatory concerns, but he hopes that Coinbase can expedite the process.
“There’s no doubt that we need to accelerate the process by which we review assets and we add them to the site, because we’re quickly going to be in a world here where there’s so many that we’re not going to be able to keep up, unless we accelerate that process.”
DOGE was the only coin mentioned during the investors’ call, and there’s still no confirmation of which crypto will be listed on the exchange next.
Dogecoin has been at the center of retail trading frenzy of late, garnering swaths of attention after the meme-crypto received repeated shout-outs from tech billionaire and Tesla CEO Elon Musk. DOGE’s success also sparked an emergence of dog-related coins, some of which have been listed on Binance, the world’s largest crypto exchange.
At time of writing, DOGE is trading at $0.50, down 25% in the last seven days according to CoinGecko.
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Author: Daily Hodl Staff