Bittrex opens initial exchange offering platform
Bittrex Global, which has operations in Bermuda and Liechtenstein, has launched Bittrex Global Starting Block, a new initial exchange offering (IEO) platform.
Announcing the news in the Liechtenstein capital of Vaduz, the company said the platform had been built to support high-calibre cryptocurrency projects “looking to partner with an industry leader in security and compliance to take their project to the next level”.
Bittrex Global said the initiative would give promising projects the ability to market and launch their IEO, enabling them to raise funds, distribute tokens and generate awareness for their project across the industry.
Bittrex Global Starting Block will provide retail and institutional clients alike with the ability to access these new and innovative digital asset projects, the company said.
Using the expertise of Bittrex Global, the company said, projects would be evaluated extensively and undergo rigorous screening, the parameters of which include project innovation, token issuer due diligence, token economics, supply unlock schedule, use of proceeds, project road map, strategic partnerships, market interest and community engagement.
Blockchain projects vetted and qualified to launch on Bittrex Global Starting Block will gain access to Bittrex Global’s powerful marketing capabilities and worldwide user base, the company said.
Stephen Stonberg, CEO at Bittrex Global, said: “We are supporting the most promising projects in the most efficient way. Prior to an IEO, Bittrex Global will conduct a thorough review of the project and examine every aspect, from token ownership to historical sales, target token distribution, allocations and vesting periods, with a focus on ensuring that a balanced supply and demand exists for our IEO participants.”
Chris Sinkey, chief business officer at Bittrex Global, added: “Blockchain innovation and experimentation is at an all-time high. Our team is excited to meet new projects in the crypto space, and we look forward to supporting front runners who are truly looking to push the boundaries of blockchain technology.”
Bittrex Global (Bermuda) Limited is regulated by the Bermuda Monetary Authority and licensed as a Class F digital asset business under the Bermuda Digital Asset Business Act 2018 to operate as a digital asset exchange, provide custodial wallet services and operate as a digital asset derivative exchange provider.
In Liechtenstein, Bittrex Global GmbH is registered with the Financial Market Authority under Law of 3 October 2019 on Tokens and TT Service Providers to operate as a TT exchange service provider, TT token depositary and token issuer on behalf and for the account of third parties.