Japan`s financial services giant SBI Holdingsis trialing a crypto token that can be used to make retail purchases with users’ smartphones. This was officially confirmed in a news release published September 25.
The news release presents the trial as a key litmus test for blockchain’s possibilities and usefulness. SBI also alludes to the pseudonymous developer behind Bitcoin (BTC) Satoshi Nakamoto, claiming that the company aims to “improve” upon the “convenience of [Nakamoto’s]’ vision.
Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner. In practice, this means some new assets listed on our platform may only be available to customers in select jurisdictions for a period of time.
The new process begins with a form for issuers to submit assets for listing at Coinbase, which we will evaluate against our digital asset framework. The application form and the digital asset framework will be regularly updated, and our form will indicate the latest version of the framework we are evaluating against.
Initially there will be no application fee. Depending on the volume of submissions, we reserve the right to impose an application fee in the future to defray the legal and operational costs associated with evaluating and listing new assets. At our discretion, we may choose to list some assets on the basis of our own evaluation, even in the absence of an application. In other cases, we will attempt to give quick, specific reasons for the approval or rejection of particular assets.
With this shift in process, our customers can expect us to list most assets over time that meet our standards. Because listing announcements will become more frequent, we expect to publicly announce the addition of new assets only at or near the time of public launch across one or more Coinbase products. (The Coinbase Blog)
Coinbase was founded to give people around the world access to a more open financial system. Towards this end, we’ve always taken a deliberate approach to adding support for new assets to the platform.
While one of our top customer requests has been to add support for many new digital assets, we have been determining how to do this in a compliant and secure way that maintains the standards our customers have come to expect.
Today we’re announcing a new listing process that will allow us to rapidly add most digital assets that meets our standards and are compliant with local law, while providing our customers with the tools to discover, evaluate, trade, and use digital assets: