According to the news on 13th of our newspaper, the digital currency AITD developed by American Trust Insurance Bank conducted an IEO in Singapore on November 13, 2019. This IEO is the first time for traditional bank institutions to offer digital currency IEO and makes a new breakthrough for the development of blockchain.
Initial Exchange Offering, shorted for IEO, refers to the behavior using exchange as the platform for fundraising and offering tokens to users of this exchange, and then the exchange will become the main trading market which makes tokens trade on the secondary market.
Comparing with the past, IEO mainly transfers the risk of the project to the exchange. The exchange will use its more resources and experience to complete all investigations and reduce phishing, DDoS and other malicious attacks.
American Trust Insurance Bank (AITD) is a new trust insurance bank financial institution established by the American Trust Bank in collaboration with the Edwards Family Foundation and relying on blockchain technology for the basis of banking operations. American Trust Insurance Bank will use the new technologies including blockchain, artificial intelligence and big data and other new technologies to overturn financial industry from the bottom, reconstruct the ecology, and create a new global financial format. The Bank committs to providing global financial institutions with a decentralized value transfer service network characterized with cross-border, cross-platform, and cross-asset, which contains anonymous features and supports for standardized technology output and is designed to create a cost-effective, cross-chain blockchain financial solution for financial institutions around the world.