Bitcoin gains; Coincheck considers IEO launch

Bitcoin gained on Friday in Asia. Japanese crypto exchange Coincheck made headlines today as the company said it is considering launching an initial exchange offering (IEO).

Bitcoin gained 2% to $10,172.8 by 12:46 AM ET (04:46 GMT). XRP rose 2.2% to 0.27176, Ethereum traded 3.2% to $191.40, while Litecoin climbed 1.3% to $73.728.

Bitcoin’s market cap, according to , was last at $182.58 billion, about 70% of the total crypto marketcap of $286.94 billion.

According to a story published by Cointelegraph Japan on Thursday, which cited a Japanese statement by Coincheck, the company said that “the opportunities are being considered within the rules and guidelines of the Japanese Financial Services Agency.”

An IEO is a fundraising method conducted by a well-known exchange. That compares to an initial coin offering (ICO), where the fundraising is administered by a project team themselves.