Japanese Bitcoin Exchange Coincheck to Conduct IEO

The cryptocurrency exchange Coincheck will conduct a pilot for Japan initial exchange offering (IEO).

In the summer, the trading platform will list for sale cross-chain Hashpalette (HPT) tokens, aimed at NFT creation.

Coincheck signed a partnership with Hashpalette in August 2020.

HPT will be the first token issued as part of an IEO on the Japanese crypto market.

The proceeds from the sale of tokens will be used to further develop its blockchain.

Coincheck announced plans to launch a platform for conducting IEOs in August 2019.

Regulation of Japan’s cryptocurrency market was enacted in May 2020. From April 2022, Japan’s virtual-asset service providers will provide transaction data upon request by authorities.

Follow ForkLog news on Facebook.