DRIVE Market Crypto Exchange Plans For IEO, Native Token Sale And Listing As A Service Launch
DRIVE Market Planning To Launch IEO Platform & Native Token Sale
DRIVE Markets, a digital currency exchange, announced that it is accepting applications from companies that are interested in listing an Initial Exchange Offering (IEO), on April 2, 2019.
The term IEO certainly seems to be a new one buzzing around, and it is deemed as an alternative to initial coin offerings.
In addition to the IEO, the platform also announced that it is issuing a Listing-as-a-Service (LaaS) model for crypto. The LaaS has been developed to provide issuers with more knowledge concerning listing as a long-term engagement, and it is also designed to promote the spread of costs. According to Kate Kiscox, the platform’s CEO,
“Our goal is to change the perception of listing in the crypto markets and introduce the companies of the future to our growing base. For companies with a proven team, strong business model and traction, listing is a great way of accessing funding for growth and expansion.”
When DRIVE Markets goes forward with the IEO venture, it will need to go through a regulatory approval process and commit to quarterly reporting requirements. The quarterly reporting requirements will be issued through the company’s news outlet.
DRIVE Markets native token IEO list will be available for trading on April 3, 2019 at 2:00 p.m. GMT. It will list at $0.14 and have a circulating supply of 70M coins. Those interested can check it out on the DriveMarkets.com website. Hiscox also added,
“Direct to listing is a natural evolution for utility and security tokens. At DRIVE, we believe that digital asset trading is the future but it must come with a foundation of responsible listing.”