Coinbase VP, General Manager Adam White Says Its Customers Want New Crypto Assets Added


Coinbase Vice President and General Manager Announces that Coinbase Customers Want New Assets

Coinbase’s Vice President and General Manager Adam White announced during an interview with CNBC Fast Money that the platform’s clients are asking for new assets in addition to the existing ones. Coinbase is among the leading cryptocurrency exchanges in this industry with over 20 million retail investors.

According to Adam, Coinbase has a long-term vision for the crypto industry and are thus focused on building the exchange, its wallet and custodian that will enable users to move capital easily in this market. He notes that todays volumes have reduced compared to where they were in January.

Adam defended this announcement saying that the primary reason the exchange was adding the new assets is because the clients want them. The platform is focused on creating and listing assets preferred by both retail and institutional investors.

In the same interview, the GM denied the assertion that Coinbase was becoming bullish on the added coins since according to the interviewer, the index fund is to carry all the coins to be traded on this platform. Adam was firm on this saying that the move is ‘certainly not bullish’ but is instead a sure indication that the assets added have attained the requirements of Coinbase digital asset trademark. The digital asset trademark according to Adam is this industry’s best practice.

Coinbase has established a 60-point digital asset frame as one of its targets. These targets are then shared with the platform’s users. The platform has done this in a bid to establish an avenue of sharing information transparently and guide the industry to what they consider as the best practices for creating digital assets.

Adam was also asked about the nature of interest from institutional investors relating to the kind of fund flows and ramps. To these, the VP replied that is unprecedented. He further said that it is not institutions that drive cryptocurrencies, but retail investors. It is only in 2017 that institutional conversion has become profound leading to Coinbase setting up a base in New York and established an institutional products platform in Sweden.

It is institutional growth that compelled Coinbase custody release a few weeks ago. The platform is also in the process of adding a third tranche to the preliminary institutional investors. Adam says that institutions need serious regulatory structure. It is for this reason that he announced that Coinbase has acquired a number of broker-dealer licenses in ETS and RIA. The licenses are going to make it easier for the platform to operate effectively as a regulated compliant custodian, compliant exchange and an asset manager. These requirements are vital for institutions.

Coinbase Adam said is also working to improve on the three most important aspects users look for in this market which are liquidity, compliance and transparency. In preparation for this, he said that there are big upcoming announcements that will guide Coinbase to achieve them.

In response to the issues of differentiating discrete tokens with different use cases when it comes to trading, Adam focused on the crypto-economics concept. He asserted that they have seen various interesting ideas, white papers and placeholders’ capital from prominent universities such as Stanford.

Crypto investors according to Adam are not valuing assets differently irrespective of their aspects. The vital features that traders look out for are daily transactions, the size of the volume moving in a given trading period as well as the number of users building on to those assets. Adam says that the most important is if these protocols facilitate value creation while working in sync within the industry.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide