Connect with us


Millions of Coinbase Users May Soon Be Able to Participate in IEO on Coinbase



US Cryptocurrency Exchange, Coinbase Has Been Accused of Racism, See why. (cryptotvplus)

U.S based cryptocurrency exchange Coinbase may soon offer to ability to participate in Initial Exchange Offering on its’ platform to millions of its users.
This was made known by the Exchange’s Head of Institutional sales in Asia, Kayvon Pirestani. Kayvon Pirestani at the CoinDesk’s Invest: Asia conference revealed that the firm may one day get into the IEO product offering. This according to him could be possible in “next few months”.

He is quoted saying “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.”

The Initial Exchange Offering IEO came after the buzz around initial coin offering ICO died out owing to the wide possibility of fraud and the diminishing interest in investing in crypto startups as the market went down following bans and restrictions placed by global corporations and governments.
IEO as an alternative to ICO, transfer trust from individual crypto projects to the Hosting Exchange who also handles the KYC/AML checks on behalf of the firm seeking to raise funds.
Instead of the investors sending their crypto assets to a smart contract or website specially prepared by the firm as in the case of ICO, investors in IEO offerings send their assets to a cryptocurrency exchange who gives them the purchased value or stake in the crypto firm. Exchange listing is one of the added advantages of IEOs.
Not wanting to make a formal announcement, Kayvon Pirestani also mentioned that STOs are getting “talked about alot but traded much less”. Continuing, he revealed that Coinbase will wait for more demand in the STO fund raising alternative.
With other cryptocurrency exchanges already offering IEOs as a product to their users, Coinbase may soon be onboard the IEO train and allow millions of its’ users to invest in startups in the space.

0 0 votes
Article Rating
Click to comment
0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments

Crypto News Update

Latest Episode on Inside Blockchain

Crypto Street



ALL Sections

Recent Posts

Would love your thoughts, please comment.x