• Sat, 24 Aug 2019, 07:53 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Initial Exchange Offering (IEO): Crypto exchanges OKEx, KuCoin announce fundraising platforms

Wed, 13 Mar 2019, 07:33 am UTC

Cryptocurrency exchange OKEx has announced its plans to launch a new initial exchange offering (IEO) platform.

Dubbed “OK Jumpstart,” the platform aims to incubate high-potential projects and support early entrepreneurs.

In its official release, OKEx said that it believes that the IEO model is an ideal method for high-quality projects and early entrepreneurs to kick-start. It will help them save time and resources for getting listed on exchanges and enable them to focus on project development and community management.

The company said that it conducted a comprehensive evaluation of related regulations worldwide and came up with “OK Jumpstart" as a compliant IEO platform.

"We are happy to launch 'OK Jumpstart' as our own IEO platform. I believe the IEO model will bring considerable advantages to both the exchange and project developers, particularly start-ups can conduct their launching process easier and more streamlined," said Andy Cheung, Head of Operations of OKEx. "In view of the demand for IEO growing so fast, 2019 will be the year of IEO, and we expect to see more innovative projects be hatched from this platform."

Similar to the Initial Coin Offering (ICO), IEO allows selling tokens to finance early-stage projects. However, a key difference between the two models is that in the case of IEO both the project developer and the investors facilitate their transactions through a third party – a reliable exchange. The exchange acts as a guarantor and conducts a project due diligence check on the project team.

This week, another digital asset trading platform, Bittrex, announced that it will host the upcoming IEO of international gaming data blockchain project RAID’s XRD token. The offering marks the first IEO to be hosted on the Bittrex International Platform.

KuCoin has also announced a similar initiative, called “Spotlight,” which CEO Michael Gan described as “a launch platform for hidden gems in blockchain that have real potential and value.”

Binance, the world’s largest cryptocurrency exchange by trading volume, can be said to have spearheaded this space with Binance Launchpad, its exclusive token sale platform. BitTorrent (BTT) was the first project to be launched on the platform and successfully raised $7 million in under 20 minutes.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,106.90 (-2.83%)
  • Ethereum (ETH) $189.58 (-2.38%)
  • XRP (XRP) $0.272200 (-1.30%)
  • Bitcoin Cash (BCH) $306.54 (-2.02%)
  • Litecoin (LTC) $73.17 (-2.56%)
  • Bitcoin (BTC) $10,106.90 (-2.83%)
Aug 23, 2019 (Friday)
11:35
Stablecoin project Terra receives funding from HashKey Capital
10:49
Three of the founding members of Libra Association consider backing out: Report
08:55
Overstock's Patrick Byrne steps down as CEO
08:52
Pundi X brings XPOS crypto payments to Venezuela's Traki retail stores
07:22
Blockchain startup Blockstack scores strategic investment from Japan's Recruit Holdings
07:19
BitGo announces support for multi-signature EOS wallet and custody services
06:39
US Treasury blacklists crypto addresses of suspected Chinese fentanyl traffickers
06:14
Chainalysis launches ‘Chainalysis KYT Alerts’ to detect suspicious cryptocurrency activity in real-time
05:13
Cryptocurrencies used to buy fentanyl, other illicit drugs: White House
05:04
Blockchain energy startup Power Ledger extends energy trading trial in Fremantle
03:53
Blockchain accelerator initiatives launched at the University of California campuses
Aug 22, 2019 (Thursday)
13:05
Crypto exchange Coincheck mulls launching IEO Platform
12:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:53
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:42
Sierra Leone launches blockchain-based National Digital Identity Platform
10:43
Blockchain startup Blocko secures $7.4M in Series B+ round from major South Korean financial institutions
09:52
Crypto Technicals: Ethereum Classic ignores crypto space weakness, extends gains to break above 200-DMA
09:16
Former Zaif exchange owner Tech Bureau to discontinue crypto business after completing customer refunds
08:32
Crypto Technicals: XLM/USD bearish trend intact, hits multi-month lows at 0.06542
07:33
Russian firm ICORating settles $270K fine with SEC for concealing ICO touting payments
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft