Coinbase to launch ICO platform… debuts with 'Monad'

JOON HYOUNG LEE

Summary

Coinbase is launching an ICO platform that will allow individual investors to purchase cryptocurrencies prior to exchange listings.
The first token sale on the new platform will be Monad (MON), and Coinbase said all projects' tokens will be listed on Coinbase.
Investors can pay with USDC after signing up for Coinbase and completing KYC, and project selection will be determined through evaluations based on various screening criteria.

U.S. cryptocurrency exchange Coinbase is launching a token offering (ICO) platform.

The Wall Street Journal (WSJ) reported on the 10th (local time) that "Coinbase Global is launching a new platform that will allow individual investors to purchase cryptocurrencies prior to listings on its exchange." The Wall Street Journal said, "Coinbase plans to conduct about one token sale per month," and "token allocations will be determined automatically by an algorithm."

The first project to hold an ICO on the platform is Monad (MON). Coinbase plans to conduct Monad's token ICO via the new platform next week. A Coinbase representative said, "All projects' tokens issued through the (new) platform are planned to be listed on Coinbase."

To use the new platform, users must sign up for Coinbase and complete the identity verification (KYC) process. Payments will be made in the dollar stablecoin USD Coin (USDC). The Wall Street Journal said, "(On the new platform) blockchain projects seeking to issue tokens will be evaluated based on criteria including user interest, the founding team's track record, and token economics."

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