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2019-09-11 16:38:22




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Coinbase is interested in the possibility of issuing its own token

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min to read

2019-09-11 16:38:22

Coinbase, a leading US cryptocurrency company, is considering the possibility of launching its own exchange token, as well as a platform for initial exchange offerings (IEO)

Coinbase, a leading US cryptocurrency company, is considering the possibility of launching its own exchange token, as well as a platform for initial exchange offerings (IEO), CoinDesk reports.

 

The corresponding statement at the Invest: Asia conference in Singapore was made by the head of institutional sales of Coinbase in Asia, Kayvon Pirestani. According to him, the platform for carrying out IEO is one of the tools of capital formation being studied by a California company.

 

“There is a really interesting opportunity for Coinbase here. In short, Coinbase closely monitors not only the IEO space, but also the security tokens offers (STOs). But I can’t make any official statements yet," – he said.

 

Earlier this year, a number of large cryptocurrency exchanges, including Binance, Bitfinex, OKEx, Huobi, Gate.io and Kucoin. began active IEO. As a part of such campaigns, exchanges act as a trusted broker and allow investors to exchange the tokens they issue for project tokens.

 

Pirestani added that the launch of the platform for IEO could take place in the next few months, but plans concerning STO are more distant. Nevertheless, Coinbase is taking certain steps towards this direction. In particular, to obtain the status of a regulated broker-dealer, the company has already acquired several third-party companies.

 

One way or another, Kayvon Pirestani emphasized that before embarking on an action, Coinbase intends to wait for growing interest in STO offers.

 

Let us recall that earlier this month, Coinbase's venture capital division invested in the startup Offchain Labs, which is developing the Arbitrum protocol. The latter is an Ethereum sidechain with through put of 500 transactions per second.

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