Kraken partners with Legion to host high-profile token sales

Kraken has added a new token sale platform to its arsenal of products called Kraken ￰0￱ well-established crypto exchange partnered with Legion, a European entity focused on initial coin offerings (ICOs), to create Kraken ￰1￱ partnership allows Legion to distribute selected token sales directly to Kraken’s global user ￰2￱ will ensure that those tokens are listed for trading on the exchange shortly after each sale ￰3￱ companies stated that they will focus on “highest-profile” sales, which are defined as projects with major fundraising ￰4￱ runs token sales with a dual system Kraken Launch will run sales under a dual ￰5￱ 20% of tokens in each offering will be reserved for users holding a Legion ￰6￱ score measures community loyalty and harmony with project ￰7￱ remainder of the tokens will be available on both Kraken and Legion on a first-come, first-served ￰8￱ sale will require users to complete Kraken’s intermediate-level KYC ￰9￱ a 0.5% fee will apply to ￰10￱ Launch will earn revenue through transaction fees collected on token ￰11￱ will also earn revenue from trading fees once new tokens begin trading on the ￰12￱ and Legion will share this ￰13￱ McLain, Head of Payments and Blockchain at Kraken, said, “Kraken is building the foundation of tomorrow’s financial infrastructure with crypto at its core.” Legion clarified that its token sales are compliant with the European Union’s MiCA ￰14￱ EU requires token issuers to publish a white paper and subjects listed tokens to market-abuse ￰15￱ sales are inaccessible to users located in the United States, Canada, or Australia.

However, Legion has indicated that it is exploring ways to open access in the US by working with the SEC’s crypto task ￰16￱ builds an ICO underwriting model Legion presents itself as the world’s first ICO ￰17￱ to co-founder Matt O’Connor, the model resembles the role underwriters play in traditional ￰18￱ includes handling pricing, distribution, compliance, research, and even post-launch support, such as liquidity and market ￰19￱ wants to automate regulatory compliance, integrate sell-side research, and provide smoother token ￰20￱ will create a framework that moves closer to traditional capital ￰21￱ will continue to conduct its own compliance and due diligence reviews before listing tokens.

O’Connor stated that, “The next Figma or Reddit won’t IPO. It’ll launch to its community ￰22￱ partnership is another step toward making that possible.” Kraken has been expanding its product line rapidly during what analysts describe as a more permissive US regulatory ￰23￱ expansions include the launch of tokenized stock products in the EU, new perpetuals for retail traders, and the acquisition of trading platform ￰24￱ reported that Kraken is preparing for a public listing by the first quarter of next ￰25￱ exchange is working with Goldman Sachs and JPMorgan to raise up to $1 ￰26￱ Launch is just another milestone for the established exchange as it continues to broaden its business model and reinforce its ￰27￱ up to Bybit and start trading with $30,050 in welcome gifts