Coincheck, a Tokyo-based cryptocurrency services provider, announced today that the company is planning to conduct an initial exchange offering (IEO) of Hashpalette this summer. Initially, Coincheck partnered with Hashpalette in August 2020 as a part of the company’s plan to enter the IEO business.
According to an official announcement, the IEO business has gained significant attention in the last few years due to a jump in the adoption of cryptocurrency assets. Coincheck aims to expand its crypto services in the future.
Coincheck is a subsidiary of Monex Group, a leading financial services provider in Japan. During the latest financial results, Monex Group highlighted a significant contribution of its cryptocurrency businesses to the Group’s overall profitability.