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CoinBurp Partners with KuCoin to Conduct Initial Exchange Offering

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by Kofi Ansah · 3 min read
CoinBurp Partners with KuCoin to Conduct Initial Exchange Offering
Photo: CoinBurp / Medium

According to the release, the $BURP token will have a maximum supply of 500M tokens, which CoinBurp expects to reach in 2028, with 57% of the supply going to end-users.

CoinBurp has announced that it will be joining forces with a global cryptocurrency exchange, KuCoin, to conduct an Initial Exchange Offering (IEO). CoinBurp, since it was founded in 2018, has been trying to create the easiest application in the crypto space to discover, buy, and send NFTs and now looks set to take a step further by partnering with KuCoin to launch its public sale.

The latest partnership according to the press release will ease the process for any crypto fanatic to become one of the first holders of $BURP, CoinBurp’s native token. ‘KuCoin Spotlight sets a higher quota for BURP token distribution at 2,272,727BURPs,” the release stated. The $BURP token is a mixture of utility and governance over the suite of products offered by CoinBurp.

CoinBurp’s IEO launch has been lauded by many market experts as a great step for an innovative firm like CoinBurp to launch its native token with a global leading exchange by its side. KuCoin will reportedly manage the raising process and ease the process of buying and storing $BURP token by simply accessing your exchange wallet and start trading. The latest partnership is the 12th IEO project of KuCoin Spotlight.

According to the release, the $BURP token will have a maximum supply of 500M tokens, which CoinBurp expects to reach in 2028, with 57% of the supply going to end-users. The company will make up to 1% of the supply available with no locking up period in the public sales, which will give investors the option to trade it on the day of its launch.

CoinBurp is the largest P2P crypto brokerage in the UK and an FCA-registered platform. It is regarded as the most popular and trusted crypto trading platform in the UK and is ranked the best UK-based crypto trading platform by consumer review site TrustPilot.

The UK-based crypto company through partnerships with tech accelerator, and Outlier Ventures, has raised $6M in funding, which will be used in the development and marketing presence of their all-new CeDeFi product, the CoinBurp platform. The company has an already established CeFi website, CoinBurp.com, and is currently developing an ETH-based DeFi wallet which will be supported by its native token, $BURP, and the DAO.

CoinBurp earlier this year launched the World’s maiden NFT crypto wallet that connects CeFi and DeFi, which has been dubbed the Coinbase for NFT. The company has also integrated the UK Faster Payments Service for GBP deposits and open banking for users and clients in Europe to make direct deposits to their Euro wallets.

The company is reportedly planning the launch of the next version of its DeFi/NFT Wallet in September, after the public sales. The update of its Defi/NFT Wallet will be integrated with OpenSea, alongside full support for FIAT integration (EUR & USD).

Altcoin News, Blockchain News, Cryptocurrency news, News
Kofi Ansah
Author Kofi Ansah

Crypto fanatic, writer and researcher. Thinks that Blockchain is second to a digital camera on the list of greatest inventions.

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