Coinbase wants to support ERC20 tokens

The popular in this country stock exchange Coinbase has announced that they will support ERC20 tokens in the future.

ERC20 tokens are strictly smart contracts based on the Ethereum Blockchain. For many cryptoprojects, this is a fast way to release your own cryptocurrency without having to program your own platform and blockchain. The most popular ERC20 tokens are EOS, Tron, VeChain and BNB.

Coinbase has now announced in the corporate blog to support the ERC20 tokens in the future. However, the company has not yet revealed how that will look like. Presumably, however, the withdrawal and deposit of the ERC20 tokens is possible.

The ERC20 tokens use Ethereum addresses. If a user has sent an ERC20 token to a Coinbase Ethereum address, then it was lost forever. This problem will soon be a thing of the past.

In addition, the first ERC20 tokens on GDAX, Coinbase’s professional trading platform, may soon be tradable. If they have enough liquidity then the tokens could also be listed on Coinbase, provided that they comply with the Coinbase guidelines for new tokens.

So we have no choice but to wait and see what Coinbase is planning next with the ERC20 tokens.