Coinbase open to listing central bank digital currencies, says CEO
Central bank digital currencies (CBDCs) are being discussed regularly in the cryptocurrency space. This is because an increasing number of central banks globally are looking to develop and issue their CBDCs. However, there hasn't been much discussion about how to distribute the CBDCs and how people can access them. Coinbase could be one of the platforms to solve this problem
Coinbase could list CBDCs
Coinbase CEO Brian Armstrong said the cryptocurrency exchange is open to listing CBDCs as long as they meet the required listing standards. Armstrong made this remark while talking about Coinbase's upcoming direct listing on the NASDAQ stock exchange at a Reddit ask-me-anything session hosted by the company.Armstrong was asked about the full integration of crypto payments into internet services and how CBDCs can play a role. He stated that CBDCs are an important trend towards ensuring that the fiat system moves into the digital age. "I think central bank digital currencies are going to be really big as well, and pretty much every major government out there is starting to think about how they're going to build them," he added.
The CEO pointed out that Coinbase is a cryptocurrency-friendly platform that would support any cryptocurrency, including CBDCs, as long as they meet the listing standards. While Coinbase is the first platform to come out to support the listing of CBDCs on its exchange, other cryptocurrency exchanges might be open to the idea.
However, CBDC development and issuance could still be a few years away as several countries are still actively researching the best ways to develop the digital currencies.
Coinbase to go public soon
The US-based cryptocurrency exchange has been on the news in recent weeks as it prepares to go public. Coinbase is opting for a direct listing rather than via the conventional initial public offering (IPO).The cryptocurrency exchange is valued above $70 billion and is slated to be one of the largest direct listings ever on the NASDAQ stock exchange.
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