Coincheck, a Japan-based bitcoin and cryptocurrency exchange, today announced that it has begun to consider funding support for projects with utility tokens through IEOs.

The business in which cryptocurrency exchanges support fundraising by tokens is also called an IEO (Initial Exchange Offering), where companies and projects issue utility tokens to raise funds.

In this process, the cryptocurrency exchange examines issuers while maintaining the benefits of traditional ICOs such as reducing funding costs, creating fan communities and financing that does not require equity distribution.

Target Companies and Projects

Companies and projects that have not raised funds in this method and want to grow their business and expand their community with tokens, can check out the following form on Coincheck.

Coincheck was founded in August 2014, and its core business of bitcoin and cryptocurrency exchange has grown to be used by a total of 1.88 million users, with the Coincheck app exceeding 2.5 million downloads.

In January of 2018, the company suffered one of the largest exchange hacks ever, with $534 million in NEM token stolen.

Coincheck is a subsidiary of Monex Group, and registered virtual currency exchange in Japan ((Director-General, Kanto Local Finance Bureau No. 0014). The company is also a member of the Japan Virtual Currency Exchange Association.