Coinbase Launches Support for Low-Cap Altcoin on Retail Trading Platform

A low-cap altcoin that has surged by more than 160% this week is now available across Coinbase’s full retail platform.

The top US crypto exchange listed Assembly Protocol (ASM) on Coinbase Pro earlier this week and now allows customers to trade, send and receive the crypto asset on the firm’s retail platform Coinbase.com and its iOS and Android applications.

Assemble Protocol is a global blockchain-based reward point integration protocol that aims to match point providers, point consumers, and retail merchants.

The protocol was created as a way to solve a number of common problems associated with customer loyalty points such as the dispersion of points across multiple loyalty programs and the scarcity of options to redeem points within a validity period.

Explains Assemble Protocol’s whitepaper,

“Consumers can use their loyalty points, with the same attitude as they use cash, everywhere in the world without any time or place restrictions, while companies can expand their businesses and access diverse user pools.”

Assembly Protocol’s native token ASM is trading at $0.097 at time of writing, according to CoinGecko. Despite its price surge after the Coinbase Pro listing on Wednesday, the Ethereum-based token has since pulled back nearly 23% from its weekly high of $0.12.

ASM, the 521st-ranked asset by market cap, is also still down more than 85% from its all-time high of $0.645, which it hit in late April, according to CoinMarketCap.

Coinbase’s chief executive Brian Armstrong said this summer that the exchange was hustling to list as many altcoins as possible.

“Reminder about how Coinbase lists assets: our goal is to list *every* asset where it is legal to do so.”

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Featured Image: Shutterstock/Voger Design/Andy Chipus