The exchange will launch an IEO service for this.
The operator of the popular digital asset exchange Coinbase is working on the creation of an IEO service with the functionality for issuing tokens. The head of the trading platform, Brian Armstrong, spoke about this in an interview for a podcast with the CEO of O’Shaughnessy Asset Managemen.
A snippet of a podcast transcription with Brian Armstrong
According to the head of the exchange, the platform operator is working on a service that will be called “Launch with Coinbase, or something like that.” As a reminder, IEO is a type of ICO (initial coin offering). It is a way to attract investment. Unlike ICOs, IEOs – an initial exchange offering – are conducted under the control of a trading platform. The method improves the safety of the process. In this case, Coinbase will take over the role of the controlling link.
The tokens can be issued for different purposes. The company may want to attract investment or use the token to build the community. The company is going to help customers to want to attain these goals guiding them through the entire process and help them with a number of issues such as custody, creation of smart contracts, asset management, and distribution of responsibilities among employees. This is how Brian Armstrong described the capabilities of the service.
According to the CEO of Coinbase, the new project will be something in-between the platform for creating companies Stripe Atlas, and the site for attracting early-stage investors AngelList.