What is Exchange Coin (Exchange Token)?

Exchange coins are digital assets launched on a crypto exchange via an Initial Exchange Offering (IEO), a fundraising method for crypto companies that's similar to an Initial Coin Offering (ICO). There are two different types of exchange coins: those launched by the exchange itself as the native coin or token of the platform, and those launched by other crypto companies using the token launch infrastructure and services of the exchange. These exchange assets can either be tokens (digital assets enabled by an existing blockchain) or coins (digital assets that run on their own blockchain).