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 -4.91% Ankr / USD ANKRUSD $ 0.07
$0.00-4.91% Volume 34.4 m Change $0.00 Open $0.07 Circulating 7.66 b Market Cap 568.04 m 5 mon Coinbase Accelerates Altcoin Listing Ahead of Going Public, Bringing Millions of Retail to DeFi 6 mon Coinbase CEO Says Exchange is Open to CBDC Listings, Not Intimidated by DEXs , Curve DAO CRV -9.57% Curve DAO Token / USD CRVUSD $ 2.25
-$0.22-9.57% Volume 275.68 m Change -$0.22 Open $2.25 Circulating 426.75 m Market Cap 961.85 m 1 d DeFi Rallies on China Ban as Chinese Turn to Decentralized Projects, Crypto Prices Recover to Pre-ban Levels 1 w Even Ethereum Layer 2 Solutions Are Earning Significantly Higher Fee Revenue than Bitcoin 1 w DeFi Autumn after Solana Summer? Traders Still Short as Bitcoin Jumps to $48k and Ether to Nearly $3,700 , and Storj STORJ -6.18% Storj / USD STORJUSD $ 0.99
-$0.06-6.18% Volume 30.3 m Change -$0.06 Open $0.99 Circulating 320 m Market Cap 315.7 m 5 mon Coinbase Accelerates Altcoin Listing Ahead of Going Public, Bringing Millions of Retail to DeFi 6 mon Coinbase CEO Says Exchange is Open to CBDC Listings, Not Intimidated by DEXs 6 mon 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 -6.27% Ethereum / USD ETHUSD $ 2,826.10
-$177.20-6.27% Volume 17.13 b Change -$177.20 Open $2,826.10 Circulating 117.71 m Market Cap 332.66 b 1 h Cardano's Investment Arm, EMURGO, Commits $100 Million to Ramp Up DeFi Integration 2 h Miner Returns $2.2 Million In Fees Mistakenly Paid by Crypto Exchange Bitfinex 4 h China Ban: TradingView & Data Sites Inaccessible, Alibaba Stops Miners & Crypto Sales, “Complete Shutdown” for SparkPool Users 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.