- IEO to see release from BitBay
- How using fiat will reduce barriers for new crypto investors
- Continuing theIEO fad
European cryptocurrency exchange Bitbay is set to launch an initial exchange offering (IEO) platform from November 18. Bitbay Launchpad will open with a token sale for QAN, a scalable, quantum-resistant smart contract platform. For the first time, participants will have the opportunity to participate in an IEO sale using fiat currency, including US Dollars, Euro, British Pounds, and Polish Złoty.
Speaking of the launch, Paweł Sobków, CEO of Pinewood Estonia OÜ, a BitBay platform operator, stated:
“Our IEO Launchpad has been created to provide investors with an all-in-one-place solution. We deliver complete information about a project, as well as offer a simple process for buying tokens with both crypto and different fiat currencies.”
Sobków went on to explain how allowing investors to participate using fiat will reduce barriers to entry for novice cryptocurrency investors.
It’s an intriguing approach, given that many exchanges such as Binance or Huobi restrict IEO sales to holders of their exchange tokens. While this approach serves to push up the price, it may deter those who have no interest in buying or holding the exchange token. No doubt Bitbay is hoping to capture a slice of that market sector by allowing people to participate using fiat currencies.
QAN is operated by Centrum Circle, a fintech company focusing on disruptive and profitable tokenizable projects. The platform is an enterprise-grade, secure, and fast platform that runs smart contracts in all major programming languages.