Coincheck about to roll out IEO platform dealing with utility tokens

Posted 23 August, 2019

Japan-based Coincheck has expressed intentions to create a platform that will be aimed at an initial exchange offering. The companies will be able to raise funds via utility token trading at the platform.

Coincheck highlighted that this way of capital raising (IEO) is attracting more and more interest in the market. The announced platform is said to target different companies, including those which already run some products and newcomers that are yet to attract any funds via a token sale.

Still, the platform will have certain restrictions. As the company spokesperson stated access would be granted only to the companies that planned to offer utility tokens. For reference, trading of securities-tokens is subject to Japan's  Financial Instruments and Exchange Act.

According to the market data, there are 12 cryptocurrency exchanges that have already launched IEO platforms. These list of 12 include such giants as Binance, OKEx, Huobi и Bittrex.

At the same time, some market analytics believe that the IEO segment peaked this May, so now the activity is slowing down.

It should be mentioned that the Japanese exchange was hacked in January 2018 and lost more than $500 million recordings one of the biggest cryptocurrency hack attacks.

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23 August, 2019 12:20

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