Coincheck Japanese exchange launches IEO through a partnership with Hashpalette

• This major Japanese exchange has just launched an initial exchange offering platform for raising funds through utility tokens.
• The announcement was made earlier today with the platform teaming up with the Japanese business Hashpalette in order to integrate an initial exchange offering to sell Palette Tokens on the Ethereum blockchain platform Palette. 

You may have heard of the Coincheck crypto platform. This major Japanese exchange has just launched an initial exchange offering platform for raising funds through utility tokens.

The announcement was made on the 25th of August earlier today with the platform teaming up with the Japanese business Hashpalette in order to integrate an initial exchange offering to sell Palette Tokens on the Ethereum blockchain platform Palette. Future plans for the platform include an idea to coordinate the offering with the Japan virtual and crypto-assets exchange Association by the end of 2020.

A representative from Coincheck said the following:

“We are building an ecosystem that allows creators and artists to provide customers with unique experiences in digital content. We can accelerate the growth of this ecosystem with crypto assets for supporting payment methods and voting, and the sales and distribution of Palette Tokens provided as incentives for operating nodes.”

For those that don’t know, Hashpalette was created in March this year as a joint venture between the Japanese businesses Link-U and the blockchain company HashPort. The tokens will be able to be used on the Palette blockchain platform for numerous reasons in regards to purchases to Japanese anime comics, music and even sports.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!