The cryptocurrency exchange Coinbase has shown interest in the launch of an initial exchange offering (IEO) platform.
The huge surge in popularity that Bitcoin and other cryptocurrencies have enjoyed over the course of the past few years is due to a lot of factors. One of the most important ones is the various crypto exchanges which made it possible for millions of people to easily buy and sell these tokens.
Among the hundreds of crypto exchanges that have been established over the years, Coinbase has proven to be one of the most influential. In a new development, Coinbase has announced that it is exploring the possibility of establishing its own initial exchange offering platform.
Over the years, the exchange has gone on to become one of the most popular exchanges in the United States and in other places. Moreover, it has been known for being at the forefront of innovation. During a conference in Asia, the company’s chief of institutional sales in Asia, Kayvon Pirestani, spoke about Coinbase’s plans. During the discussion, Pirestani stated that IEOs have proven to be an exciting new opportunity in the crypto space, and the company is considering getting in on the action at some point.
As everyone knows, the initial coin offering (ICO) has become a problematic way of raising money for crypto projects since, over the years, plenty of unscrupulous characters have indulged in scams. Hence, IEOs have now emerged as the preferred means of raising money for a project. When it comes to an IEO, the exchange reviews the projects and then gives the go-ahead for a listing.
The whole process takes place in such a way that investors are protected from any scam. In such a situation, it is only natural for an exchange like Coinbase to get into it. The company has the reputation, the infrastructural advantage, and the leverage of a large user base to make it into a success. It remains to be seen when the company announces the launch.
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