Coinbase CEO Brian Armstrong confirmed the company’s plans to launch a platform for conducting initial exchange offerings (IEOs), according to The Block.
Initial details about the forthcoming launch surfaced in mid-August. At that time, in a conversation with Patrick O’Shaughnessy, head of O’Shaughnessy Asset Management, Armstrong said that Coinbase was working on a product called \”Coinbase Launch or something like that.\”
What is an initial exchange offering (IEO) and how does it differ from an ICO?
\”This is a solution for anyone who wants to launch a crypto startup. They can come and say: ‘Okay, I want to issue a token. Maybe I want to raise money. Perhaps I simply want to build my own community.’ We will accompany people through this process, helping with asset custody, smart contract creation, and governance issues,\” said the head of the American exchange.
According to him, Coinbase Launch will help accelerate broad crypto adoption.
\”It could significantly unlock the potential of the crypto economy and serve as a catalyst for thousands of new startups,\” added Armstrong.
Earlier, ForkLog reported that Coinbase’s board had joined Mark Andreessen, co-founder of the venture-capital firm Andreessen Horowitz.
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