Key Takeaways
- Coinbase is launching a new platform that will let blockchain projects sell digital tokens directly via Coinbase’s infrastructure.
- Monad, a blockchain startup, will be the first to utilize this platform for its token sale as it preps its mainnet launch.
Coinbase is launching a platform that enables individual investors to purchase digital tokens prior to their listing on the exchange, with blockchain startup Monad set to be the first project to sell tokens through the service, the Wall Street Journal reported Monday.
The platform, set to host approximately one token sale per month, will employ an algorithm to allocate tokens among investors who can submit purchase requests during a specified one-week period, according to the report.
Monad is one of Coinbase Ventures’ portfolio companies. The venture arm took part in Monad Labs’ $225 million Series A funding round in April 2024.
The initiative follows Coinbase’s acquisition of Echo, aiming to democratize and streamline early-stage investing in the crypto space. Coinbase plans to expand this model to include tokenized securities and other real-world assets, creating a comprehensive ecosystem for token sales and fundraising.
Source: https://cryptobriefing.com/coinbase-token-offering-platform-monad/
