Tokyo-based virtual currency exchange, Coincheck Co., Ltd. has announced its commencement of funding support project for projects wanting to raise funds through offerings.
The exchange which has its head office in Tokyo, Japan made this announcement through its Tokyo representative director, Toshihiko Katsuya who made it known that the exchange has begun to consider a funding support project using utility tokens. According to the exchange, the exchange plans to help projects which meet a set of already published criteria which include a working product.
By conducting this project, the exchange aims to realize a system that both increases the number of products handled by Coincheck as well as provides users with new investment opportunities, and also provides new financing opportunities for companies and projects.
In line with the arrangements, the eligible projects must have a working product and must also be companies or projects which have not raised any funds since their launch. Further, the opportunity is also open to projects seeking to raise funds in business units and those companies which seek to use tokens.
Coincheck entered the business in 2014 and has gained considerable traction within its five years in business. The virtual currency exchange has over 1.88 million users and the coin check app has seen over 2.5 million downloads.
This new fundraising support project is based on the rules and guidelines of the FSA-certified self-regulatory organization. As a procedure, the target business is examined and then commissioned by companies and project issuers to support operations such as the sale of cryptographic assets.