The Initial Exchange Offering (IEO) will launch the token XB of the XueBi trading platform.

The Biki.com crypto exchange, which is among the top 20 in the world based on market cap, will launch subscriptions of XueBi ($XB) tokens on February 21, 2020, at [11:00](GMT+8). Trading for XB/USDT will commence the same day from [18:00] (GMT+8). (biki.com)

An IEO is a token sale by a crypto exchange. The registered users of the exchange can subscribe to the IEOs launched by the Exchange on its platform. IEOs have taken off in 2019 raising over $159 million.

Because the reputation of the crypto-exchange is at stake, it will ensure better vetting of the projects floating an IEO. Also, it is mandatory for exchanges to conduct KYC/AML checks. Therefore, investors can expect better liquidity of their tokens because the IEO-issued tokens would be listed on the exchange.

Strategic investment

Crypto exchange BiKi.com has made a “strategic investment” in the XueBi trading platform (pictured above) and launched the IEO process for its first platform token, XB. The BiKi Sector Fund invested the amount of $1 million. (SOMAG NEWS)

Project description:

“XueBi Platform (XueBi.io) is the world’s first community federated digital asset trading platform.

Communities under the federal system are polycentric, autonomous, and non-centralized, but at the same time, the various communities unite to form a strong unified consensus to jointly build XueBi into a first-class trading platform.”

Biki and XueBi have entered a strategic collaboration to complement each other’s platforms via assets and traffic.

Further, Xuebi’s products include ETF trading, currency trading, OTC trading and leveraged ETF.

BiKi.com

Meanwhile, BiKi itself provides trading in more than 150 cryptocurrencies and 280 trading pairs. Launched in 2018, BiKi is one of the fastest-growing crypto exchanges globally. Further, it has 2 million registered users and 200K daily active users. Huobi’s co-founder Du Jun, Genesis Capital Zhu Huai Yang, FBG Capital, ChainUP and others have invested about $10 million in BiKi.com.

On February 19, 2020, BiKi listed Electroneum (ETN), an innovative UK-based project. The listing accompanies an exciting 6 million ETN giveaway.

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