Coincheck, Japan’s cryptocurrency exchange, is considering launching a platform for initial public offerings (IEOs) to raise funds using instrumental tokens.
Coincheck, acquired by the Monex Group broker in April 2018 after a major hack in January, hinted at its plans to create a platform for IEO. According to the statement, Coincheck began exploring fundraising opportunities through tool tokens, arguing that IEOs are attracting more attention and providing greater reliability as a fundraising method.
In a statement, Coincheck noted that it is aimed at companies and projects that have not yet raised funds with tokens, but are striving for further business development. The exchange said that all launch options are considered exclusively within the rules and guidelines of the Japan Financial Services Agency (FSA).
According to TokenInsight research firm, the hype surrounding the initial public offerings is fading. Researchers evaluated the amounts collected at IEO and concluded that the boom lasted only three months and is now experiencing a gradual fading. Analysts said the IEO bubble inflating was launched by Binance, which this year restarted its platform for IEO.