Japanese Crypto Exchange Coincheck May Launch IEO with Intention of Helping Raise Funds for Tokens
Coincheck, a major crypto exchange based in Japan and owned by the Monex Group, is considering the launch of an Initial Exchange Offering (IEO) platform. According to the company, the group is still considering the possibilities, but it was hinted that the launch may actually happen.
IEO platforms are getting more popular recently, mostly due to the level of success that Binance reached with its own IEO platform. The word ICO got a bad rep after so many ICOs failed after 2017. Many investors now see them as highly unregulated and risky, because of this, the IEOs are getting traction.
They are deemed to be more reliable than Initial Coin Offerings (ICOs) by many experts. Companies such as Huobi, Bitfinex, Gate.io and others are already using this new model. Coincheck is paying attention and will possibly start to invest in this field as well.
According to the company, the ideal clients for a possible platform would be the ones that do not have any tokens yet but already have a real business. Now, the company is considering the local rules in order to determine whether this ICO can be a good idea.
Coincheck was one of the largest exchanges in Japan, but it was hacked and it lost nearly everything. Since then, the company is trying a new start. This year, it was greenlighted by the Japanese regulators to open up shop again and the launch of IEOs, which are still not that popular in Japan, might give the company the necessary boost.