Bitfinex, a major cryptocurrency exchange, and its offshoot Ethfinex has reportedly introduced a new initial exchange offering (IEO) platform, named Tokinex. As per the report, the new IEO platform will use KYC (Know Your Customer) checks powered by the Blockpass mobile app for each sale completed for the IEOs hosted on the platform. However, the company statement clarifies that Tokinex will not store personal data after token sales’ completion.
The users of Bitfinex and Ethfinex will now reportedly be capable to participate in the sales using funds from their personal exchange wallets, and the platform poised to offer transparency and ample due diligence, providing prospective investors in its IEOs with independent third party research information for each project. According to the announcement, Tokinex doesn’t plan to charge token issuers for listing their tokens, as well as plans to list their tokens post-sale on both the Bitfinex and Ethfinex marketplaces. According to Ethfinex Co-founder Will Harborne, the first token will be announced in a few days with approximately two or so more following each month. Though Ethfinex is accountable for running the IEOs, and users on both Bitfinex and Ethfinex can directly participate in the IEOs with their existing accounts.
Recently, Bitfinex has released its own native exchange utility token, dubbed UNUS SED LEO, which is designed to be used for a number of exchange-based activities and is tradable against the tether (USDT), Bitcoin (BTC), Ether (ETH), USD and EOS pairs. As a sister exchange of Bitfinex, Ethfinex is an exchange specialized in trading ERC20 tokens.