Kraken Trolls Coinbase, Says it is Exploring Addition of 1,600 Cryptos
Coinbase had tweeted Thursday that it is studying the possibility of adding five more coins to its platform namely, Cardano (ADA), Zcash (ZEC), Stellar Lumens (XLM), Basic Attention Token (BAT) and 0x (ZRX).
While the announcement of Coinbase caused excitement among the crypto community, Kraken exchange used it an opportunity to make fun of Coinbase by saying that it is exploring the possibility of adding 1,600 crypto tokens to its platform.
Notably, Coinbase’s announcement received positive response from investors who have appreciated the broker’s smart approach of considering to list 0x and BAT tokens, which conducted their ICO in 2017.
Exciting and important revelation for the community today. Kraken has been contemplating the exploration of maybe adding over 1600 new coins, pending the outcome of our highly sophisticated review process. For a glimpse of the possibilities: https://t.co/dmfd5yr48s
— Kraken Exchange (@krakenfx) July 14, 2018
It should be remembered that Coinbase may require approval from local financial authorities and SEC to list digital assets such as 0x and BAT. The process may demand additional resources from Coinbase, but prove benefitical to the whole of cryptocurrency industry, including other exchanges, in the future. Therefore, the response of Kraken should be considered only as a small joke, while understanding the importance of the decision and its long-term implications on the cryptocurrency market. If Kraken is able to get 0x and BAT listed, then it may pave way for adoption of those cryptocurrencies in the US.
Coinbase has also stated that it will continue to list new cryptocurrencies in the future.
“Going forward, you should expect that we will make similar announcements about exploring the addition of multiple assets. Some of these assets may become available everywhere, while others may only be supported in specific jurisdictions.”