U.S.-based cryptocurrency exchange Coinbase is evaluating the launch of an initial exchange offering (IEO) platform in the near future.
Kayvon Pirestani, head of institutional sales in Asia at Coinbase, revealed the news at Invest: Asia conference on Wednesday, saying: “We think there’s a really interesting opportunity there for Coinbase.”
“In a nutshell, Coinbase is carefully exploring not only the IEO space but also STOs [security token offerings]. But I can’t make any formal announcements right now,” Pirestani added.
Last month, Japanese crypto exchange Coincheck was also considering launching an IEO platform to help firms raise funds via utility tokens.
IEOs, popularized by Binance, are fast becoming a theme of 2019. Already 12 cryptocurrency exchanges, including OKEx, Huobi and Bittrex, have announced their IEO platforms this year, and 39 projects have already participated in an IEO, according to The Block's research.
Kayvon Pirestani, head of institutional sales in Asia at Coinbase, revealed the news at Invest: Asia conference on Wednesday, saying: “We think there’s a really interesting opportunity there for Coinbase.”
“In a nutshell, Coinbase is carefully exploring not only the IEO space but also STOs [security token offerings]. But I can’t make any formal announcements right now,” Pirestani added.
Last month, Japanese crypto exchange Coincheck was also considering launching an IEO platform to help firms raise funds via utility tokens.
IEOs, popularized by Binance, are fast becoming a theme of 2019. Already 12 cryptocurrency exchanges, including OKEx, Huobi and Bittrex, have announced their IEO platforms this year, and 39 projects have already participated in an IEO, according to The Block's research.
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Francisco Gimeno - BC Analyst It is just a question of time before more crypto exchanges will offer IEO platforms. This is a new and expected development which will help in the growth and evolution of crypto market, and how it fits in the global regulated financial markets. Companies which want to launch a fundraising for a blockchain based product or a crypto which doesn't fit under tradicional VC or an ICO will benefit from this.