Singapore-based exchange BitXMI launched Initial Exchange Offering (IEO) for its customers across the globe. One of the unique selling point for the IEO will be that it can be availed at 60% discount and allows references to earn their bit.
What is IEO?
Initial Exchange Offering or IEO is a variant for initial coin offerings which has been largely operated by cryptocurrency exchanges across the globe. Let us understand ICO first: ICO has been a funding for cryptocurrency. In the most of the circumstances it has been done through crowd funding, with many a times a private ICO not looking for a public funding.
In ICO, the cryptocurrencies are sold as tokens. Os can allow startups to avoid regulations that prevent them from seeking investment directly from the public, and intermediaries such as venture capitalists, banks, and stock exchanges, which may demand greater scrutiny and some percentage of future profits or joint ownership.
Earlier, exchange issued an IEO apparently to shore up its reserve for Tether tokens. In the past few years, U.S. Securities and Exchange Commission are looking into IEOs, with a view to acting against violations of securities laws.
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