United States cryptocurrency exchange Coinbase is not planning to launch a decentralized exchange, a senior executive told cryptocurrency news media outlet The Block in an interview on May 29.
Speaking on a range of topics around Coinbase's activities, Emilie Choi, the company's vice president of Business, Data & International, said that despite acquiring P2P platform Paradex last year, decentralized trading is not a priority.
"I think the decentralized exchange space, it's gonna be interesting to watch it play out. I think it has a lot of potential," she said.
Coinbase has targeted high-volume investors both in the U.S. and abroad in recent years, focusing on mainstream on and off-ramps into the cryptocurrency industry.
This has placed the company in a different position to crypto-only platforms such as Binance, Choi says, which continues to drop details of its forthcoming decentralized exchange launch.
"Obviously we are the fiat to crypto bridge. We're the fiat to crypto bridge and we play a different role than others in the space in terms of trying to be the safe trusted center of the crypto economy," she continued.
Binance regularly tops the exchange leaderboard worldwide for overall trading volumes.
Choi implied in the interview that the two operators move in separate sectors of the crypto world.
"We couldn't probably be more differentiated than them in terms of the focus on the fiat to crypto bridge and being that safe trusted center of the crypto economy. So I think they're playing one game, we're playing another," she said.
As Cointelegraph reported, rumors currently claim that Coinbase is in talks with Facebook concerning their GlobalCoin, a rumored in-house cryptocurrency token which could launch next year.
Coinbase Not Currently Investing in Decentralized Exchange Sector, Executive Confirms
gepubliceerd op May 30, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.