Digital currency exchange software provider AlphaPoint has announced it is expanding into the market for initial coin offerings, or ICOs.
The startup revealed today that it is releasing an Asset Issuance and Custody toolkit that enables the creation of new tokens, utilizing protocols such as ‘colored coins’ (to build an ICO backed by bitcoin) or ERC20 for ethereum-based launches.
Akin to the firm’s white-label exchange software service, the new product provides a host of pre- and post-launch services for ICOs, including the creation of block explorers, community reporting and integration support for third-party exchanges
AlphaPoint founder Joe Ventura said that his startup (which raised $1.35m in 2014 to fuel its efforts) is making the move due to the growing interest in the ICO model among blockchain startups and entrepreneurs.
“ICOs create a new source of funding to drive faster innovation for blockchain projects. We are building the technology platform to support those initiatives,” Ventura, who serves as both CEO and CTO of the startup, said of the launch.
That AlphaPoint would enter the market for ICOs is perhaps unsurprising, given its past white-label product launches. The news comes as an increasing number of projects tap the ICO model to raise capital, a state of affairs that is disrupting the way traditional VCs interact with startups.
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