Coinbase Announces New Listing Amid Major Expansion Move

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Coinbase, one of the world's most recognized cryptocurrency exchanges, has unveiled a significant addition to its growing digital asset ecosystem. This latest move underscores the platform’s aggressive expansion strategy aimed at increasing accessibility, diversifying offerings, and reinforcing its leadership in the rapidly evolving crypto market.

The announcement centers on the upcoming listing of Across Protocol (ACX), an ERC-20 token built on the Ethereum network. Trading for ACX is expected to go live on August 21, 2024, pending favorable liquidity conditions. Once sufficient market depth is achieved, the ACX-USD trading pair will roll out in phases across Coinbase’s supported regions.

This strategic addition reflects Coinbase’s ongoing commitment to integrating innovative blockchain projects that enhance cross-chain interoperability and decentralized finance (DeFi) functionality — two core trends shaping the future of Web3.

👉 Discover how next-gen tokens like ACX are transforming cross-chain trading

Expanding Access: New Assets for New York Users

In a notable development earlier this week, Coinbase expanded access to several digital assets for residents of New York, a historically regulated U.S. market. The newly available tokens on both iOS and Android apps include:

This expansion marks a pivotal step in democratizing access to emerging crypto assets within one of the strictest regulatory environments in the United States.

Enhanced Support for DeFi Powerhouses

Coinbase has also boosted support for key DeFi protocols by enabling Base network send and receive functionality for three major tokens:

Users can now transfer these assets seamlessly between wallets and decentralized applications built on Base — Coinbase’s own Ethereum layer-2 scaling solution. This enhancement strengthens interoperability and encourages greater participation in yield-generating strategies, liquidity provision, and governance voting within the DeFi space.

Perpetual Futures Launch on Coinbase International

In parallel, Coinbase International Exchange announced the addition of perpetual futures contracts for three high-demand assets:

These derivatives markets went live on August 22, 2024, at approximately 9:30 a.m. UTC, offering traders advanced risk management tools and leveraged exposure to fast-growing ecosystems. Perpetual futures allow investors to speculate on price movements without expiry dates, making them especially popular among active crypto traders.

Introducing cbBTC: Bridging Bitcoin to DeFi

One of the most anticipated developments from Coinbase is the upcoming launch of cbBTC — a native Bitcoin-backed token designed specifically for use on the Base network.

Unlike traditional wrapped Bitcoin variants, cbBTC aims to offer higher capital efficiency and tighter integration with Base-native DeFi protocols. By bringing Bitcoin’s immense value into decentralized lending, borrowing, and liquidity pools, cbBTC could catalyze a new wave of innovation in Bitcoin-centric financial applications.

Experts predict that cbBTC may play a foundational role in building a robust Bitcoin economy on Layer 2, unlocking trillions in dormant value for productive use in DeFi.

👉 Explore how Bitcoin is powering the next generation of decentralized finance

Market Reaction to ACX Listing

Following the official announcement, the Across Protocol token (ACX) experienced a sharp uptick in market activity. Initially surging as much as 14% on social media speculation, the price stabilized at $0.392, reflecting a 4% gain over the past 24 hours at the time of writing.

This positive reaction highlights investor confidence in Coinbase’s ability to drive adoption through listings — a phenomenon often referred to as the “Coinbase effect.” Historically, assets listed on Coinbase experience increased liquidity, visibility, and institutional interest.

What Is Across Protocol?

Across Protocol is a trust-minimized cross-chain messaging and bridging solution that enables secure transfer of tokens and data across multiple blockchains. It leverages optimistic oracle mechanisms to reduce reliance on centralized validators, enhancing security while maintaining speed and cost-efficiency.

By integrating with major DeFi platforms and layer-2 networks, Across facilitates seamless asset movement between ecosystems such as Ethereum, Arbitrum, Optimism, and Base — addressing one of the biggest pain points in multi-chain environments: fragmentation.

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Frequently Asked Questions (FAQ)

Why is a Coinbase listing important for a cryptocurrency?

A Coinbase listing significantly increases a token’s visibility, liquidity, and credibility. As one of the most trusted U.S.-based exchanges, being listed often leads to higher trading volumes and attracts institutional investors who prioritize regulated platforms.

What is the purpose of cbBTC?

cbBTC is designed to bring native Bitcoin utility into the DeFi ecosystem on Coinbase’s Base network. It allows users to leverage Bitcoin’s value in decentralized applications without leaving the Base environment, promoting deeper integration between Bitcoin and Ethereum-based smart contracts.

When will ACX trading begin on Coinbase?

Trading for Across Protocol (ACX) is expected to start on August 21, 2024, contingent upon meeting liquidity requirements. The ACX-USD pair will launch in phases once adequate supply is confirmed.

Can New York residents use all Coinbase features?

While regulatory restrictions previously limited access, Coinbase has recently expanded availability for several tokens — including NEAR, AERO, VET, VTHO, and PYUSD — to New York users via its mobile apps.

What are perpetual futures in crypto?

Perpetual futures are derivative contracts that allow traders to bet on asset prices without an expiration date. They’re widely used for hedging or leveraging positions in volatile markets like cryptocurrency.

How does Across Protocol ensure security?

Across uses an optimistic oracle model where funds are released after a challenge period unless disputes arise. This minimizes trust assumptions while maintaining fast transfer times across chains.

👉 Stay ahead of the next big crypto listing before it hits major exchanges

Final Thoughts

Coinbase’s recent moves signal a broader industry shift toward integrated, multi-chain financial ecosystems. From expanding retail access to launching sophisticated derivatives and native DeFi assets like cbBTC, the exchange is positioning itself at the forefront of crypto innovation.

As the line between centralized platforms and decentralized protocols continues to blur, initiatives like the ACX listing and Base network enhancements exemplify how major players are driving mainstream adoption — one strategic integration at a time.