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 -4.65%
Ankr / USD
ANKRUSD
$ 0.10
$0.00
-4.65%
Volume 452.06 m
Change $0.00
Open $0.10
Circulating 7 b
Market Cap 672.49 m
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, Curve DAO
CRV -11.62%
Curve DAO Token / USD
CRVUSD
$ 2.50
-$0.29
-11.62%
Volume 309.31 m
Change -$0.29
Open $2.50
Circulating 255.27 m
Market Cap 638.74 m
10 h
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, and Storj
STORJ -19.09%
Storj / USD
STORJUSD
$ 1.51
-$0.29
-19.09%
Volume 438.4 m
Change -$0.29
Open $1.51
Circulating 253.33 m
Market Cap 383.52 m
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. These assets would be tradeable from March 25th.
Curve is an Ethereum
ETH -5.80%
Ethereum / USD
ETHUSD
$ 1,586.59
-$92.02
-5.80%
Volume 38.29 b
Change -$92.02
Open $1,586.59
Circulating 115.19 m
Market Cap 182.76 b
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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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