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CoinList, which recently raised $9.2 million in Series A funding to build a platform for digital asset companies to manage their token sales and for investors to discover high-quality projects, announced today the creation of its newest product: Airdrop. Named after the popular cryptocurrency token distribution method, Airdrop performs a series of compliance checks and attestations on CoinList users to allow token issuers to giveaway free tokens.

CoinList is no stranger to compliance. In order to reduce liability risks with its ICO platform, the company has implemented a scrutinous selection process that ensures anti-money laundering (AML) and know-your-customer (KYC) due diligence on all users. So far, CoinList has seen three ICOs launch on its platform, including FilecoinBlockstack and Prop, with a total of $850 million in investments from thousands of users. Currently, CoinList only allows accredited investors to participate in token sales on their platform, meaning at least $200,000 in annual income for an individual, or $1 million in net assets.

Airdrops have rapidly become a preferred method of cryptocurrency marketing, as the free giveaways enable blockchain projects to rapidly build a following of investors with skin in the game. According to an exclusive with CoinDesk, CoinList CEO Andy Bromberg believes he has found a way to enable airdropped offerings at a time when many in the industry are looking for a compliant service.

“In our typical compliance first mindset, we sat down and said: Is there a way to pull this off without violating securities laws? And what we came to is the compliant Airdrops product.”

Earn.com, which was recently acquired by Coinbase, is currently the most popular platform for targeted airdrops but has done little in the way of compliance checks.

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Whether this level of compliance is necessary is uncertain at this time, as many regulators continue to struggle with their classification of digital assets. However, it is clear that CoinList is hoping to get ahead of any potential regulation to cement itself as the major platform for token airdrops.

More: Compliant Airdrops: CoinList to Offer Investors Free Crypto Giveaways
Related: AngelList’s ICO Platform Spin-Off CoinList Raises $9.2 Million in Series A Funding
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