Coinbase considers five new coins for its platform

Finance


Coinbase, the largest cryptocurrency exchange in the U.S., is considering adding five new tokens to its platform.

The five digital coins include cardano, basic attention token, stellar lumens, Zcash and 0x.

“It wouldn’t surprise me to see these things up 20, 30, 40 percent over the weekend,” digital trader Brian Kelly said Friday on “Fast Money.”

Kelly, founder and CEO of BKCM LLC, an investment firm focused on digital currencies, said he’s “long almost every single one of them” but would probably choose Zcash and 0x first.

The announcement came Friday in a blog post that read, “these assets will require additional exploratory work and we cannot guarantee they will be listed for trading.” The San Francisco-based company went on to say that some assets may have limited functions and that it has not yet determined if the coins are securities. In addition, some of them may only be available in select countries.

All five assets moved higher after the announcement.

Previously, with the entire cryptocurrency industry under increased regulatory scrutiny, Coinbase only traded four coins despite user demand for more.

Kelly breaks it down for investors:



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