Japanese Crypto Exchange Coincheck Is Considering Launching an IEO
Hacked crypto exchange Coincheck considers launching an initial exchange offering to help firms raise funds via utility tokens.
Major Japanese crypto exchange Coincheck is considering launching an initial exchange offering (IEO) platform for raising funds through utility tokens.
Acquired by Japanese financial services firm Monex Group in April 2018, Coincheck hinted at its plans to establish an IEO business in a recent public announcement, Cointelegraph Japan reported on Aug. 22.
According to the report, Coincheck has started investigating fundraising opportunities based on utility tokens, claiming that IEOs are gaining more global attention and ensures more reliability as a method of securing funds.
In a public statement, Coincheck said that it is targeting companies and projects that do not raise funds using tokens and already have content and cause to grow their business. Coincheck added that the opportunities are being considered within the rules and guidelines of the Japanese Financial Services Agency.
IEO vs ICO
As publicized by major global exchange Binance, an IEO is a fundraising method administered by an established and proven