Coinbase CEO Says Exchange is Open to CBDC Listings, Not Intimidated by DEXs

Popular cryptocurrency exchange Coinbase may consider adding Central Bank Digital Currencies (CBDCs) to its platform in the future.

Coinbase CEO Brian Armstrong said the exchange is open to listing digital currencies operated by central banks provided that the listing requirements are met.

CBDCs Are Important – Coinbase CEO

In a video response to a Reddit AMA (Ask Me Anything), a session hosted by Coinbase, Armstrong said that he thinks CBDCs are getting popular as countries figure out ways to incorporate them into their systems.

Answering a question about what needs to happen for full integration of crypto payments into internet services and if CBDCs are going to serve that purpose, Armstrong said;

“We are cryptocurrency agnostic, so we will support any cryptocurrency, including CBDC and stablecoins and decentralized ones like DAI as long as they meet our listing standards.”

Coinbase hosted the AMA in light of its forthcoming direct listing on Nasdaq. Coinbase had filed with the SEC for an IPO last month.

The US-based exchange continues to accommodate new cryptocurrencies for listing on its platform. Just yesterday, the U.S based exchange added three new tokens for traders on its Coinbase Pro. These tokens are Ankr ANKR 0.38% Ankr / USD ANKRUSD $ 0.02
Volume 26.73 m Change $0.00 Open $0.02 Circulating 10 b Market Cap 238.79 m
2 y Coinbase Accelerates Altcoin Listing Ahead of Going Public, Bringing Millions of Retail to DeFi 2 y Coinbase CEO Says Exchange is Open to CBDC Listings, Not Intimidated by DEXs
, Curve DAO CRV 0.74% Curve DAO Token / USD CRVUSD $ 0.78
Volume 43.08 m Change $0.01 Open $0.78 Circulating 816.39 m Market Cap 637.45 m
1 y Bitcoin Aims for $50k Ahead of Low-Liquidity Holiday Season as Girls Who Code Refuse to “Miss Out” on Crypto 1 y Crypto Outliers: Terra (LUNA) Amasses $16.9 Bln & Surpass BSC, Avalanche (AVAX) Aims for 1 Million Daily Transactions 1 y Crypto Market Tanks: Bitcoin Correlation with S&P 500 Reaches 2021 High & USD Longs at Highest Level since June 2019
, and Storj STORJ 1.97% Storj / USD STORJUSD $ 0.28
Volume 5.16 m Change $0.01 Open $0.28 Circulating 398.48 m Market Cap 109.83 m
2 y Coinbase Accelerates Altcoin Listing Ahead of Going Public, Bringing Millions of Retail to DeFi 2 y Coinbase CEO Says Exchange is Open to CBDC Listings, Not Intimidated by DEXs 2 y Private Messaging App, Signal, to Accept Crypto Donations Including BTC, ETH, LINK, LTC, BAT, and More
. These assets would be tradeable from March 25th.

Curve is an Ethereum ETH 2.74% Ethereum / USD ETHUSD $ 1,865.45
Volume 9.54 b Change $51.11 Open $1,865.45 Circulating 120.23 m Market Cap 224.29 b
1 y Coinbase Predicts Substantial Growth of Newer L1 Chains & Institutionalization of Regulated DeFi 1 y A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 1 y The Sandbox Game Is Migrating to Ethereum Sidechain Polygon and Launching A DAO in 2022
based decentralized exchange that uses an automated market maker (AMM) to manage liquidity. Ankr and Storj are two digital assets that are gradually becoming popular in the sector.

Coinbase Compared To Amazon

The Coinbase CEO was asked a host of other questions in the AMA. One of them was if Coinbase felt threatened by the raft of decentralized exchanges or DEXs who run autonomous crypto trading platforms.

Armstrong compared Coinbase to Amazon in terms of innovations that will benefit customers.

He predicted that Coinbase would evolve to integrate with various DEXes, providing customers with the option to access them as they wish, just like Amazon did to third-party sellers.

Meanwhile, crypto-collateralized loans are about to be a thing in the industry as Coinbase partners with Silvergate Capital Corporation to offer Bitcoin collateralized Dollar loans.

With this new partnership, institutional investors will receive U.S Dollar loans when they use their Bitcoin as collateral. While Coinbase Custody holds the Bitcoins in storage, Silvergate will provide access to capital by disbursing the loans in fiat.

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