The cryptocurrency exchange Coincheck which was acquired by Japanese financial services firm Monex Group has recently expressed interest in launching its own initial Exchange offering (IEO) as an alternative ay of fundraising through the use of utility token.
It was revealed that Coincheck has been investigating funding mechanisms like IEO and concluded that IEO is gaining more global attention since the new model ensures more reliability as a method of securing funds.
Unlike Initial Coin Offering, Initial Exchange offering is carried out on a well-known exchange’s platform such as BInance launchpad wherein projects are scrutinized and inspected before being offered for a token sale.
The rise of IEO may have been a direct result of investors getting burnt when participating in initial coin offerings with a vast majority of these projects ending up being a sophisticated scam.
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