Coinbase Onboards VeChain and VeThor as Part of Its Roadmap

Sahana Kiran
Source – CNBC

Coinbase has continued to add new cryptos to its ecosystem despite increased regulatory scrutiny, even amidst accusations of selling ‘unregistered securities’. Undeterred, the exchange proceeded to expand its platform by onboarding new assets. In a recent announcement, Coinbase revealed its intention to list two prominent assets, VeChain [VET] and VeThor [VTHO].

Coinbase’s recent action aligned with its goal of enhancing transparency within the crypto community. The exchange aims to foster information symmetry by providing as much relevant information as possible. Hence, Coinbase will communicate the listing of each crypto asset through dedicated blog posts, ensuring the community is well-informed.

Why did Coinbase list these assets?

In a blog post, Coinbase disclosed the reason behind including VeChain and VeThor in its listings. Allegedly, Coinbase’s intention is to list any asset that fulfills its criteria for legal compliance and technical security, disregarding factors such as market capitalization or project popularity. The focus remains on meeting stringent standards rather than considering the aforementioned aspects.

The exchange actively follows a comprehensive review process that involves fulfilling a set of criteria. These criteria include obtaining sufficient information about the asset and conducting necessary technical integration work.

VeChain and VeThor kickstart uptrend

Investors often perceive the addition of a crypto asset to an exchange as a bullish indication of its value. Specifically, being listed on popular exchanges brings about additional advantages. Given Coinbase’s status as one of the largest global crypto exchanges, the listing of VET and VTHO on Coinbase served as a catalyst for their price surge.

At press time, VET was trading at $0.0175, showing a daily increase of 3.2%. Notably, this marks the highest price level reached by the altcoin within the week. On the other hand, VTHO was priced at $0.0011, showing a 5.7% rise in the past 24 hours.