The new Huobi Prime service is set to compete with Binance Launchpad - both platforms are beginning of a new era of Initial Exchange Offering (IEO).

IEO is aiming to replace the existing ICO (Initial Coin Offering). The exchange takes on the responsibility of IEO because it sells tokens itself on its own platforms and thus increases the transparency of the process. Other similar platforms are expected to open by other biggest cryptocurrency exchanges.