Coinbase Launches IEO Platform

Coinbase CEO Brian Armstrong confirmed that the exchange is developing a new service to conductinitial exchange offers (IEO).

In a podcast hosted in mid-August by Patrick O'Shaughnessy, Armstrong confirmed that Coinbase is preparingfor users, the new "Coinbase Launch" platform.

Armstrong is confident that such an opportunity will attract many developers who "just need help to issue their tokkein and create smart contracts."

He went on to note that the new service will combine the capabilities of Stripe Atlas, a platform for remote business starting, and AngelList, a platform where startups are looking forInvestment.

Conceptually, Coinbase Launch will aim to expand the use of crypto, Armstrong noted: "Creating thousands of these new startups couldbe a huge discovery for the crypto economy."

Coinbase first hinted at creating the product last fall.Head of Institutional Sales Kayvon Pirestani said at the time that the company was scrutinizingnot only the IEO space, but also the STO. 

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