- Gate.io raised $64 million by selling its native tokens.
- IEOs have taken over from the ICOs.
With the rising demand for initial exchange offerings(IEO) around the globe, Gate.io announced today that they are hosting four IEOs in its new platform. The listed projects are Crypto Neo-Value Neural (CNNS), DREP, Facts, and MovieBloc. Gate.io initiated the exchange-backed token sales last month because of its rising popularity in the crypto sphere. IEOs have assertedly resurrected the dying market of ICOs as they safeguard proper exertion of the projects by the reputed exchanges.
Virgilio Lizardo, Jr., vice president of international affairs at the digital asset exchange said:
“We are delighted with the success of our first three IEO startup projects. The innovative platforms ensure that our users have more chances to make initial investments, safely and securely.”
The project is believed to bring profitable business for the company. They are also set to start another blockchain-based project – GoWithMi, later this month.
Lizardo further added:
“Due to our commitment to building a safe and compliant blockchain asset protection platform globally, we are looking forward to continuing our growth and partnerships, providing our users with a positive and seamless experience.”
Many global exchanges like Huobi, Bittrex, and DRIVE Markets have jumped into the business. Simultaneously, the Malta-registered crypto exchange has recently raised $64 million by selling its native tokens which will fuel its upcoming native blockchain.
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