Coinbase President Hints About The Next Trend In Cryptocurrency Market

by Ricky Makan Co-Founder at Unkrypted

In an interview with CNBC, Coinbase president Asiff Hirji provided some veiled clues about what is coming to the cryptocurrency market in the near future. In addition, he gave insights about current happenings.

Hirji didn’t reveal much in the way of particulars but did comment on numerous things, including the type of traders opening new accounts, the way other currencies will soon be added into the cryptocurrency market and whether the business will go public.

Financial growth

First, the president indicated that trade volume was up thirty times YOY and the exchange is adding new accounts at the rate of tens of thousands per day. When asked about what type of account holders these were, he stated:

These are the same kind of People who would have accounts at brokerages and wish to put money into cryptocurrency. As the asset category has grown, I believe there are a lot of individuals who are adding it exactly as with any other asset class to their own portfolio.

New Asset Additions

The interview also enclosed two ‘burning questions’ for its Exchange concerning how the future will unfold. The first was if the website would start encouraging different crypto-currencies, especially Bitcoin Cash.

Hirji wasn’t coming with facts but did specify that companies have been given roadmaps for how to apply in order to join the exchange. He explained:

“So we’ve published a digital asset framework that outlines the standards we examine for any specific asset before we list it…You will need to pass those exams before we’d ever list the advantage… we’ve got a framework out there and we’ve got a great deal of individuals campaigning for new resources.”

Going public

After other discussions, including the addition of Bitcoin Futures and the way the marketplace will react to the new contracts, the meeting turned into the question of taking the company public within an IPO.

The possibility of either another exchange buying the company or a prospective public offering that wasn’t completely rejected by the president. He explained:

We’d be fairly expensive for any exchange to look at. That being said, it’s definitely in the interest of our investors…and the clear way of Coinbase is to go public at a certain stage, but there are a lot of things to do between now and then.

Source: http://www.unkrypted.com/coinbase-president-hints-trend-in-cryptocurrency-market/