Kraken and Legion Unveil 'Kraken Launch,' Bringing Regulated Token Sales to 15 Million Users

Cryptocurrency exchange Kraken has partnered with Initial Coin Offering (ICO) platform Legion.cc to launch "Kraken Launch," a new platform designed to host MiCA-compliant token sales. This collaboration aims to revolutionize crypto fundraising by introducing IPO-style underwriting standards and offering access to Kraken's extensive global user base of over 15 million. Anil Lulla, a prominent figure in the crypto space, underscored the significance of this development, stating in a recent tweet, > "If you’re a project that is going to TGE soon, it’s irresponsible not to get on the phone with @legiondotcc and hear their offering with @krakenfx out. You get incredible distribution with all of Legion’s features for a merit-based ICO."

Legion.cc positions itself as the world's first ICO underwriter, seeking to professionalize token sales by integrating aspects of traditional Initial Public Offerings (IPOs). This model encompasses comprehensive services such as pricing, distribution, compliance, research, and post-launch support to ensure market stability. Legion co-founder Matt O’Connor emphasized that this approach aims to curate high-quality projects rather than simply chasing volume, moving towards a more structured capital market for crypto.

Kraken's involvement provides a significant distribution channel and reinforces the platform's commitment to regulatory adherence. The exchange will conduct its own independent compliance and due diligence checks on all token sales, adding an extra layer of security and trust for participants. Brett McLain, Kraken’s Head of Payments and Blockchain, highlighted that this partnership is foundational to "building the foundation of tomorrow’s financial infrastructure with crypto at its core."

The token distribution model for Kraken Launch features a dual system: up to 20% of tokens will be reserved for users holding a Legion Score, a merit-based system rewarding community loyalty and project alignment. The remaining tokens will be available on a first-come, first-served basis through both Kraken and Legion. All sales are designed to be compliant with the European Union’s MiCA framework, with Legion actively exploring pathways to expand access to the U.S. market.

This strategic alliance is expected to generate revenue through transaction fees on token sales and subsequent trading fees once new tokens are listed on Kraken. The partnership aligns with Kraken's broader strategy of expanding its product offerings ahead of a potential public listing, while Legion gains unparalleled reach and validates its regulated approach to crypto fundraising. O’Connor envisions a future where "the next Figma or Reddit won’t IPO. It’ll launch to its community onchain," a vision this partnership aims to facilitate.