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Coinbase will host about one token sale a month on its new platform, which will use an algorithm to determine how tokens are allocated to investors. Investors will be able to submit purchase requests during a one-week window. Following this period, an algorithm will distribute the tokens, aiming for broad and equitable allocation, Coinbase said.
Coinbase, the largest crypto exchange in the U.S. by trading volume, has been trying to diversify into more business lines and reduce its dependence on transaction fees from crypto trades. The token sales platform, which only charges issuers a fee for participating in the public sales, could still increase its revenue by expanding the number of tradable tokens on Coinbase and attracting users who currently rely on overseas exchanges.
