Coincheck, a Japanese cryptocurrency trading company, Today announced plans to conduct IEO for Hashpalette this summer, a Blockchain network Cast, manage and trade digital content as NFT.

As early as the summer of 2019, in order to promote the growth and development of its cryptocurrency exchange, Coincheck began to consider Enter IEO business. Then, back in August 2020, Coincheck and Hashpalette announced their goal of achieving Japan’s first IEO.

International Labor Organization

IEO (Initial Exchange Product) is a system in which cryptocurrency exchange supports the formation and development of communities and the purchase of funds through the issuance of tokens.

As a kind of initial coin offering (ICO), IEO is a method for companies or projects to digitally issue utility tokens to obtain funds; cryptocurrency exchanges are the main party selling the issuer’s tokens.

The tokens issued by companies and projects can build an open and decentralized network with users, developers, investors, service providers and other network participants from all over the world.