Coinbase Boosts ETH-Based Altcoin Launching Soon

Top US cryptocurrency exchange Coinbase has added a new token to its list of alternative cryptocurrencies that may be traded on its platform.

Hashflow Token (HFT), the native token for Hashflow’s decentralized exchange (DEX), has been included to Coinbase’s road map, the company announced through Twitter.

Hashflow aspires for interoperability, zero slippage, and miner extractable value (MEV)-protected deals. Hashflow employs a request-for-quote (RFQ) methodology that enables professional market makers to manage its liquidity pools, while conventional DEXs depend on automated market markers (AMMs) to facilitate on-demand trading of assets.

At the time of writing, HFT has not yet been introduced. Huobi, a cryptocurrency exchange, says it will launch HFT on November 7.

According to its website, Hashflow is supported by a number of industry titans, including Jump Trading, Galaxy Digital, Alameda Research, and Coinbase Ventures, the venture capital arm of Coinbase.

Earlier this year, Coinbase CEO Brian Armstrong said that the business intends to offer as many cryptocurrencies as possible, provided they fit the company’s criteria.

“It’s kind of like Amazon or something like that where a product might have three stars or it might have five stars, but if it starts to get one star consistently, it’s probably fraudulent or defective or something and maybe Amazon will remove it. Otherwise, you want to let the market decide what these things are.”

Coinbase devised the plan this year to promote openness and limit the likelihood of listing announcements being preempted.

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