Friday, 18 September 2020

Bitstamp reviewing a new batch of 25 coins for potential listing

- Bitstamp announced that it is reviewing a number of new coins for its platform.
- There are 25 cryptos under examination, and while all might be listed, they must first pass the review.
- Bitstamp requires that the coins meet certain criteria, and if none of them do, then no coins will be listed.

Bitstamp, one of the largest digital currency trading platforms in Europe, has announced plans to expand its cryptocurrency offering. The exchange is currently looking into an entire new set of coins that have the potential to be listed on Bitstamp’s platform.

25 new coins are getting the chance to get listed on Bitstamp

According to the exchange’s recent announcement, multiple coins from the new batch might see a listing. However, it is also possible that none of them will pass the examination, as Bitstamp needs them to be compliant with local laws and regulations.

On top of that, the coins also need to be adequately technologically advanced, safe, and compliant.

The decision to add new asset comes due to the community demand. Crypto exchanges constantly receive demands to either expand their lists. Sometimes, users have specific coins in mind, while sometimes, they just wish for a bit more diversity.

The same is true for Luxemburg-headquartered Bitstamp, which is now reviewing Maker (MKR), Chainlink (LINK), Tezos (XTZ), Cosmos (ATOM), Cardano (ADA), PAX Gold (PAXG), Augur (REP), Algorand (ALGO), Dai (DAI), Celo (CELO), Compound (COMP), Balancer (BAL), Terra (LUNA), Polkadot (DOT), UMA (UMA), Solana (SOL), Nexus Mutual (NXM), Kyber Network (KNC), Synthetix (SNX), Keep Network (KEEP), Digital Gold (DGL). Chia (CHIA), Band Protocol (BAND), Aave (LEND), and OMG Network (OMG).

Once again, while all of these coins are being reviewed, there is no guarantee that any of them will be listed, unless they pass the examination. The exchange also noted that there might be signs of engineering work on the platform as a result of reviews.

Staying relevant among growing competition

Apart from trying to answer to user demand, Bitstamp is likely also expanding its coin list to remain relevant in the highly-competitive crypto exchange landscape. Newer platforms with more coins listed are constantly emerging, and established firms like Bitstamp must keep up in order to remain in the lead.

Bitstamp itself has been active and a leading exchange in Europe for nine years now. However, the crypto industry is bigger and more competitive than ever, so even this platform will have to make moves to stay in the lead.


source: invezz.com

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