Coinbase, the New-York based crypto exchange, has listed the Numeraire (NMR) token on its platform. The recently-added token will be available at coinbase.com along with the exchange’s iOS and Android applications for buying, selling, and holding NMR, starting from August 20. The announcement made by Coinbase also revealed that the new NMR token would be available in every region that Coinbase operates in, except for New York.
NMR is the native currency for the San Francisco based hedge fund Numerai. Numerai is known for crowdsourcing artificial intelligence to make investments in major stock markets. NMR token holders can stake their tokens every week on specific predictions, and if those predictions come true, the winners would be rewarded with more NMR tokens.
The firm, in its official statement, suggested that they have been getting various requests to list different tokens, and to address that issue, the exchange has created a listing process that was designed to accelerate the inclusion of the token. The official statement from the firm read:
“One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on Coinbase. We announced a process for listing assets, designed in part to accelerate the addition of more cryptocurrencies. We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see NMR here), as well as a new section of the Coinbase website to answer common questions about crypto.”
While the exchange suggests that they receive a lot of requests to add new tokens on their platform, many have complained that Coinbase promotes ‘shitcoin,’ a term used by Bitcoin maximalist to address tokens which they believe offer no value. It is to be seen whether Coinbase would continue to support an array of altcoins in the future as well.