Coinbase Plans to Onboard Solana Ecosystem Tokens

Solana Ecosystem Tokens

Cryptocurrency exchange Coinbase wants to list Solana-based tokens and enable withdrawals for the Solana Program Library digital assets.

Solana’s USDC with about $4.8 billion worth in circulating supply is one of the assets being targeted by the exchange.

Coinbase is yet to clarify the region’s trading would first focus on and the SPL tokens that would start.

The US-based exchange has only onboarded Ethereum-based tokens and layer one assets like Cosmos. The value of Solana’s DeFi cryptocurrencies is still behind Ethereum’s market value.

The largest Solana Program Library token by circulating market capitalization is Serum’s SRM, with about $281 million. Chainlink and Shiba Inu have a circulating market value estimated at $10 billion.

Coinbase CEO Brian Armstrong announced in 2021 that the firm’s goal was to list all the eligible assets in the cryptocurrency market.

Source: Coindesk

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