Coinbase has announced that in the near future it will start supporting ERC20 tokens. Probably waiting for the US SEC to sort out and define what these tokens are before starting this adoption.
For these ERC20 tokens to get listed on Coinbase it has to get into:
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Coinbase Custody
Coinbase provides digital assets management for a minimum of $10m dollar digital assets per investor/institution.
Before listing any tokens on GDAX, Coinbase Custody will include it in its portfolio. More about Coinbase Custody -
GDAX and Coinbase Index Fund
The token will then be listed on GDAX exchange and will be included in the Coinbase Index Fund.
Coinbase Index Fund is for US institutional accredited investors who are interested in getting into digital assets and is a combination of all assets listed on GDAX exchange. More about Coinbase Index Fund -
Coinbase
Getting adopted by Coinbase Costody and getting listed on GDAX does not guarantee getting listed on Coinbase. As such in the future there will be more tokens listed on GDAX than on Coinbase.
Here is a blog by Coinbase announcing the adoption of ERC20 tokens in the future.
This is exciting news cause coinbase has been a window for newbies into the crypto world as it is an easy platform to use to buy bitcoin with Fiat. This will bring in bigger investors and institutions into the ERC20 market as the mainstream generally have trust in a major exchange like coinbase that offer solid security and an ever improving support and customer service.