Japanese cryptocurrency exchange Coincheck plans on launching an initial exchange offering (IEO) platform.
Coincheck is planning on launching an initial exchange offering (IEO) platform to raise funds through utility tokens.
Coincheck initial exchange offering.
Coincheck is a Japanese cryptocurrency firm that was founded back in 2012 and later on acquired by the Monex Group is 2018. The Monex Group is a financial service providing firm based also based in Japan.
According to local sources Coincheck hinted at establishing its own IEO platform in a recent announcement.
Coincheck is stated to be researching in fundraising opportunities based on utility tokens. Through the research, Coincheck observed that the newly launched IEO services were gaining traction worldwide and are much more reliable than its alternatives.
Through a public announcement, Coincheck revealed that it is looking for companies that are not yet using utility tokens for fundraising. Moreover, these companies should have enough content required to expand their business.
The announcement also added that such opportunities are being considered while following the guidelines provided by the Japanese Financial Services Agency (FSA).
Initial exchange offering platform: What is an IEO and how is it different from an ICO.
IEO, as stated by Binance, is a fundraising method conducted by a well-esteemed cryptocurrency exchange firm. It is very different from the initial coin offering (ICO) where new project groups try to raise funds themselves. Here a crypto exchange’s platform is used to conduct the IEO for raising fund.
The company is yet to announce any specific dates for its launch. Moreover, Coincheck has not verified whether it will really launch an IEO platform.
You can view Coincheck’s official website here.