The US Securities and Exchange Commission and the Financial Industry Regulatory Authority have reportedly permitted Coinbase to list tokes that can be classified as securities.
Coinbase has become able to acquire three broker-dealers – Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC. As a result, the exchange will add security-tokens and become a "broker-dealer, an alternative trading system and a registered investment adviser", as the company commented.
With the green light for the purchase, the company can move to the next phase and apply the technologies to the acquired businesses to secure the corresponding certificates and licenses. However, Coinbase did not mention any schedule of this process. Besides, last Friday the company stated that they were considering adding of new coins (Cardano, Basic Attention Token, Stellar, Zcash and 0x).
Notably, the company will not be the only player in this sector. Specifically, Coinbase will face strong competition with Circle Internet Financial Ltd., which is believed to be one of the main rivals. Last month, the latter expressed intentions to pass certification for brokerage activities with the SEC. Moreover, Circle is about to apply for the federal banking license targeting expansion of the services.