Cryptocurrency Firm Coincheck Plans to Conduct Japan’s First IEO

Coincheck, a Tokyo-based cryptocurrency services provider, announced today that the company is planning to conduct an initial exchange offering (IEO) of Hashpalette this summer. Initially, Coincheck partnered with Hashpalette in August 2020 as a part of the company’s plan to enter the IEO business.

According to an official announcement, the IEO business has gained significant attention in the last few years due to a jump in the adoption of cryptocurrency assets. Coincheck aims to expand its crypto services in the future.

Commenting on the structure of an initial exchange offering, Coincheck said: “An IEO (initial exchange offering) is a system where a cryptocurrency exchange supports the formation and growth of communities and fund procurement with the issuance of tokens. An IEO is a type of Initial Coin Offering (ICO) Initial Coin Offering (ICO) An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Acco An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Acco Read this Term) by which a company or project electronically issues utility tokens to procure funds and a cryptocurrency exchange acts as the main party for selling the issuer tokens. Tokens issued by companies and projects enable the construction of open, decentralized networks with users, developers, investors, service providers and other network participants from around the world. They have gained much attention in recent years as a means to provide incentives to network participants.”

In February 2021, Coincheck announced the acquisition of Metaps Alpha, a Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term firm that has been offering an on-chain NFT marketplace called 'miime' since September 2019, in an effort to expand its NFT marketplace.

Monex Group

Coincheck is a subsidiary of Monex Group, a leading financial services provider in Japan. During the latest financial results, Monex Group highlighted a significant contribution of its cryptocurrency businesses to the Group’s overall profitability. In December 2020, Monex Group released the results of its Global Retail Investor Survey and mentioned that the number of investors in Japan with active cryptocurrency investments reached a record high of 16.2%. Furthermore, the results highlighted a record increase in the US-based investors with active cryptocurrency investments.