Coinbase Considering Adding XRP, EOS, XLM, ADA, NEO, and 26 Other Digital Assets

On Friday (7 December 2018), cryptocurrency exchange Coinbase announced that it is considering adding support for up to 31 additional digital assets.

If you own XRP, NEO, ADA, XLM, EOS, and/or any of the 26 other cryptocurrencies shown in the diagram below, you have cause to feel a bit more cheerful during this holiday season because Coinbase is considering listing these in the future:

Coinbase candidates.png

The last time that Coinbase announced that it was exploring adding support for several new assets was 15 July 2018, when it said that it was looking at Cardano, Basic Attention Token, Stellar Lumens, Zcash, and 0x. (And before that, on 26 March 2018, Coinbase announced its "intention to support the Ethereum ERC20 technical standard for Coinbase in the coming months.") 

In the blog post published earlier today, Coinbase says that from the five assets it mentioned on 15 July 2018, it has already added support forthree of these—BAT, ZEC, and ZRX—and that is continuing to "evaluate the others, along with a number of ERC-20 tokens."

Coinbase wants people to note the following:

  • "Adding new assets requires significant exploratory work from both a technical and compliance standpoint, and we cannot guarantee that all the assets we are evaluating will ultimately be listed for trading."
  • "... our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet."
  • "... we will add new assets on a jurisdiction-by-jurisdiction basis, which allows us to add assets efficiently and responsibly."
  • "As part of the exploratory process, customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets. We cannot commit to when or whether these assets will become available..."

One more thing worth noting is that just because a certain digital asset may be considered a security in one jurisdiction, say the United States, it does not mean that Coinbase cannot offer the same digital asset in other jurisdictions where there are no regulatory issues with offering that asset for trading on an exchange.

All Images Courtesy of Coinbase

Switzerland's Largest Online Retailer is Now Accepting Cryptocurrency Payments

Digitec-Galaxus, Switzerland’s largest online retail company, has reportedly decided to start accepting bitcoin (BTC) payments.

Digitec and Galaxus customers can now pay for goods and services with bitcoin and a few other major cryptocurrencies. In addition to BTC, users can make payments in XRP, ETH, Litecoin (LTC), Tron (TRX), OmiseGo (OMG), and NEO.

Digitec and Galaxus’ online retail outlets will also be taking payments in Bitcoin “Satoshi Vision” SV (BSV), Bitcoin Cash (BCH), and Binance Coin (BNB). Commenting on the Swiss retailer’s decision to start accepting cryptos, Oliver Herren, the co-founder and CEO of Digitec, remarked: 

Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce. We would like to support this development. We wanted to do that for a long time.

Coinify Will Help Convert Crypto Transfers To Swiss Francs

Herren added that Digitec decided to take cryptocurrencies as payment because people may have invested in them and they may want to use them. “Or because you cannot turn them into real money [since] your bank does not accept it. Or maybe just because you ...  like to try new things,” Herren said.

According to Switzerland’s e-commerce giant, it wants to encourage millennials, who may be heavily invested in the blockchain space, to start using cryptocurrencies for practical purposes such as paying for everyday goods and services. Price volatility of cryptocurrencies may not be an issue as Digitec and Galaxus will immediately convert crypto payments to Swiss francs using Coinify’s services, a third-party payment processor.

At present, crypto payments are only available for Switzerland-based users, however the company has said that it might allow customers in other areas to pay with crypto if their initial effort is successful.

Danish Food Takeaway Outlet Accepts Bitcoin Payments For Its 1500 Restaurants

In December 2018, Hungry.dk, one of the largest online food portals in Denmark, started accepting Bitcoin again. The food takeaway company handles orders from more than 1,500 restaurants in Denmark and had been accepting BTC payments since 2014. However, it had decided to stop taking crypto payments in late 2017 due to very long transaction processing times.

A representative from Hungry.dk noted (last year): 

We have accepted Bitcoins as a payment method for quite some time. We decided to remove the feature temporarily last year though because the average transaction time took too long, and the experience wasn’t the best.