Coinbase could soon launch an IEO platform

ICO and IEO • September 11, 2019, 3:35AM EDT
UPDATED: September 11, 2019, 11:22AM EDT
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U.S.-based cryptocurrency exchange Coinbase is evaluating the launch of an initial exchange offering (IEO) platform in the near future.

Kayvon Pirestani, head of institutional sales in Asia at Coinbase, revealed the news at Invest: Asia conference on Wednesday, saying: “We think there’s a really interesting opportunity there for Coinbase.”

“In a nutshell, Coinbase is carefully exploring not only the IEO space but also STOs [security token offerings]. But I can’t make any formal announcements right now,” Pirestani added.

Last month, Japanese crypto exchange Coincheck was also considering launching an IEO platform to help firms raise funds via utility tokens.

IEOs, popularized by Binance, are fast becoming a theme of 2019. Already 12 cryptocurrency exchanges, including OKEx, Huobi and Bittrex, have announced their IEO platforms this year, and 39 projects have already participated in an IEO, according to The Block's research.

AUTHOR

Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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