Markets News Report
January 17, 2024

Coinbase Expands Asset Listing with Ondo Finance (ONDO), Highlights Transparency Measures

Coinbase Expands Asset Listings with Ondo Finance, Highlights Transparency Measures

Cryptocurrency exchange Coinbase ann the inclusion of Ondo Finance (ONDO), a real-world assets (RWA) platform, in its listing roadmap. Ondo Finance (ONDO) is now listed as an asset on the Ethereum blockchain, specifically with corresponding smart contract address: 0xfAbA6f8e4a5E8Ab82F62fe7C39859FA577269BE3.

Coinbase aims to list every asset that aligns with the company’s established criteria for legal compliance and technical security. However, as company highlights, these standards are not influenced by the market capitalization or popularity of a project. 

The company has opted to implement this measure to enhance transparency in its listings of assets. This decision aims to provide a higher level of information symmetry for new asset listings. 

As part of the existing roadmap, there are also assets on the Solana blockchain represented as SPL tokens. Additionally, Coinbase features assets under its Experimental label, which designates newly created assets or lesser-known tokens.

These assets may involve additional trading risks, such as higher price swings and increased order cancellations.

Coinbase Platform’s Evolution

Established in 2012, Coinbase initially provided a secure and user-friendly platform for buying and selling Bitcoin.Presently, the company has expanded its offerings to encompass more than 150 tradable assets.

Recently, Coinbase formed a partnership with Yellow Card, an African stablecoin exchange that is part of Coinbase’s portfolio. This collaboration aims to extend access to Coinbase’s products in emerging economies, starting with the inclusion of 20 countries across the African continent. This follows the exchange’s announcement last week regarding its intention to acquire a MiFID-licensed entity, a move aimed at expanding its derivatives offering within the European Union. 

The company also broadened its range of international services by introducing spot trading specifically designed for non-US institutions last year.

Presently, Coinbase is involved in a legal dispute with the US Securities and Exchange Commission (SEC). The SEC has lodged accusations against Coinbase, alleging violations of national securities laws. Specifically, the agency contends that Coinbase sold 13 cryptocurrency tokens, deemed as unregistered securities, and failed to register its staking-as-a-service program. The company is anticipated to face the court on January 17th in response to these allegations.

With the new announcement, Coinbase continues its trajectory towards comprehensive asset inclusion, while navigating legal challenges and expanding globally.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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