The cryptocurrency landscape is on the cusp of a significant transformation, thanks to a landmark partnership between Kraken, a prominent crypto exchange, and Legion,a pioneering ICO platform. This strategic collaboration is poised to democratize access to token sales, empowering over 15 million Kraken users to participate in high-profile projects that were previously out of reach.
By combining Legion’s expertise in curating top-tier token sales with Kraken’s vast user base, this partnership promises to unlock new avenues for innovation, growth, and investment in the crypto space. With the first joint sale on the horizon, the crypto community is abuzz with anticipation, eager to explore the potential of this innovative alliance. Legion co-founder Fabrizio Giabardo notes,
“As the famous quote goes; First-time founders are obsessed with product, second-time founders are obsessed with distribution. We know what Legion offers works well, now we have the chance to scale that.”
Kraken Partners Legion
In a strategic development, Kraken has joined hands with Legion, an ICO firm, to host select high-profile token sales on its new Kraken Launch platform. This collaboration allows Legion to expand its reach to Kraken users, while tokens from joint sales will be listed for trading on Kraken shortly after completion. Brett McLain, Head of Payments and Blockchain at Kraken, noted,
“Kraken is building the foundation of tomorrow’s financial infrastructure with crypto at its core. Together with Legion, we’re scaling a product that democratizes token sales and aligns communities with builders. It’s not just better fundraising, it’s better infrastructure for the next generation of finance.”
What’s Kraken Launch’s “Highest-Profile” Sale?
With this pivotal collaboration, Kraken and Legion together are taking a unique approach to token sales. The crypto space’s founding principle of open access for all has now been compromised, as retail investors often miss out on early token sales. This limitation has sparked the idea of more open, global, and permissionless capital markets, which led to the launch of Kraken Launch.
According to Legion co-founder Matt O’Connor, the “highest-profile” sales refer to token sales with “sufficiently high target raise sizes.” While smaller, early-stage projects will continue to be hosted independently on Legion, O’Connor anticipates that most Legion sales will be conducted on Kraken Launch, prioritizing high-quality over volume. He also revealed that the first joint sale is expected to be announced within the next week.
Why Kraken Chose Legion?
Legion offers a cutting-edge fundraising platform that balances retail accessibility with institutional-grade safeguards, prioritizing transparency, fairness, and regulatory compliance. The platform differentiates itself from rivals like Echo and BuidlPad by adopting a model similar to traditional Initial Public Offerings (IPO). According to O’Connor, Legion acts like an underwriter, handling pricing, distribution, research, compliance, listings, and even price stabilization. This is a unique approach in the crypto space where “launchpads” are common bu ture underwriting seriveces are not. He said, “No one is doing this in crypto. There are many ‘launchpads’, but there are no ICO underwriters.” He added,
“Crypto gave us the tools to rebuild capital markets from first principles. This partnership combines Legion’s approach to regulation and merit-based access with Kraken’s global distribution, compliance infrastructure and deep liquidity. The next Figma or Reddit won’t IPO. It’ll launch to its community onchain. This partnership is another step toward making that possible.”