Listing new projects on BTC Markets

Projects are nominated by looking firstly at client demand. For example, based on client requests on social media, inbound client support tickets or where possible to list Top 40 tokens (according to CoinMarketCap).

From there, the project whitepaper is reviewed by our financial services legal team to ensure it is not a security under Australian regulation. Concurrently, due diligence is done on the founders and project itself. Ideally, we are looking to sidestep listing any projects which may cause legal issues or potential problems for clients down the line.

BTC Markets does not accept payment for listing cryptocurrencies on our platform. This is to avoid compromising our ability to conduct due diligence on projects. While this does not guarantee the quality of the projects listed, it allows BTC Markets to keep "clean hands" and maintain transparency with our clients.

As we are an exchange (not a broker) we build the token infrastructure ourselves. Meaning spinning up the specific blockchain, wallet etc. Invariably, due to the newness of the technology the documentation on this part can be sparse. This historically has meant new chains can be time-consuming to incorporate (but still worthwhile - it is our job after all.)

Naturally, we focus on issues around custody and security. That is partially offset by our partnering with BitGo. This should enable us to quickly list shared projects which is an area we can improve on.

The decision to list Sui is to try something a bit different for BTC Markets. It is a brand-new project and in recent years, we had adopted more of a wait and see approach. This time we wanted to offer a project in its earlier stages, to give clients a greater range of fresh listings.

The feedback we got from our clients on the Sui listing is useful. We’re trying something new and want to hear from you. I value the comments about greater community outreach and involvement in listings. A first step is to give you this greater transparency about how we make these decisions. How we reshape that process to include more of your involvement will be our next step.

At BTC Markets, we value transparency and feedback from our clients. We're always looking for ways to improve our processes and involve our clients more in the decision-making process. We hope this overview of our listing process has been helpful and informative. If you have any questions or suggestions, please don't hesitate to reach out to us.

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