Coinbase announced in a March 26th Medium post that the platform will now support the Ethereum ERC20 technical standard “in the coming months.” The announcement did not include any concrete timeline for the addition, nor did it hint at any specific coins that may be added.
“We’re excited to announce our intention to support the Ethereum ERC20 technical standard for Coinbase in the coming months. This paves the way for supporting ERC20 assets across Coinbase products in the future, though we aren’t announcing support for any specific assets or features at this time. We are announcing this both internally and to the public as consistent with our process for adding new assets.”
ERC (Ethereum Request for Comment) refers to the technical standard required for smart contracts on the Ethereum blockchain. At the time of this article, there are more than 63,000 ERC20 token contracts in existence, powering many of the most popular altcoins in the market, including EOS, Tron, VeChain and BNB.
This news doesn’t come as a major surprise since the Coinbase Ethereum wallet and Dapp browser Toshi both have recently added support for ERC20.
Coinbase clarified that the platform “will only list assets after they are listed on GDAX. After evaluating factors such as liquidity, price stability, and other market health metrics, we may choose to add any ERC20 asset added to GDAX to the Coinbase platform.”