Coinbase mulls over bringing Telegram to its cryptocurrency trading platform
Coinbase is considering the viability of adding secure messaging app Telegram to its platform alongside 16 other digital assets.
On Thursday, the cryptocurrency trading platform said Avalanche, Celo, Chia, Coda, Dfinity, Filecoin, Handshake, Kadena, Mobilecoin, NEAR, Nervos, Oasis, Orchid, Polkadot, Solana, Spacemesh, and Telegram are all being considered for future support.
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"To date, we have largely explored support for assets that are already live and available to trade on other venues," Coinbase says. "Today, we are announcing our intention to explore assets that have not launched and which Coinbase may choose to support in the future."
Coinbase is attempting to add new assets to its platform due to its goal of creating an "open financial system for the world." This includes supporting a variety of coins, tokens, forks, stablecoins, and collectibles, rather than just well-known cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
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Telegram's potential inclusion may eventually connect the Coinbase platform to TON. As reported by Decrypt, the Telegram Open Network is a project designed to introduce blockchain-based payments within the messaging app.
The TON project previously raised $1.7 billion in a private Initial Coin Offering (ICO). The token on offer is named GRAM.
Telegram has released its TON source code, documentation, technical guides, and a whitepaper.
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Over the coming months, Coinbase users may see signs of public-facing APIs, tests, and engineering work in relation to these assets on the platform. There is no guarantee, however, that any of the digital assets will appear in the future. Coinbase adds assets on a jurisdiction-by-jurisdiction basis due to technical and compliance requirements which will vary depending on the area and financial laws.
In August, Coinbase began sending notices to UK holders of Z-Cash, warning them that ZEC coins would need to be transferred elsewhere or converted to other cryptocurrencies. While no explanation at the time was given, it later emerged that Coinbase switched its banking from Barclays to ClearBank, who reportedly required Z-Cash to be dropped.
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In related cryptocurrency news this week, the US Department of Justice (DoJ) arrested and charged two executives of a consultancy firm. Prosecutors claim that the executives attempted to extort a cryptocurrency startup, including threats to highjack their ICO unless the startup agreed to extensive cash and crypto-asset demands.
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Previous and related coverage
- Firefox zero-day was used in attack against Coinbase employees, not its users
- Coinbase drops UK support for privacy-focused Zcash cryptocurrency
- Coinbase suspends Ethereum Classic (ETC) trading after double-spend attacks
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