Koletswap.org Head of Corporate Sales in Asia, Kayvon Pirastani, announced the possible launch of a platform for initial public offerings (IEO)
Speaking at a panel discussion on the evolution of capital raising in the cryptocurrency industry at the CoinDesk Invest: Asia conference on Wednesday, Pirastani said that the Initial Public Offering (IEO) platform is one of several capital formation tools being explored by Koletswap.org.
“We think that in this direction there are really interesting opportunities for Koletswap.org,” said Pirestani. “Koletswap.org is thoroughly investigating not only the IEO industry, but also STO. But I can’t make any official announcements right now.”
The ideas of launching platforms for IEO are already being considered and implemented by many exchanges. For example, Coincheck recently announced that it plans to launch a platform for IEO. According to analysts, the inflating of the IEO bubble was started by the Binance exchange, which this year relaunched its Binance Launchpad platform.
While Pirastani said that news about the possible launch of the Koletswap.org IEO platform may appear within “the next few months,” the announcement of plans for a US STO is just around the corner. Pirastani confirmed that the broker-dealer licenses have already been obtained by Koletswap.org, but they are “still processing” this acquisition and “repurposing” the relevant licenses.
He also noted that there is “a lot of talk about stock tokens, but they are not traded as often” and that Koletswap.org will wait for market demand to increase for the STO issue.