South Korean Cryptocurrency Exchange Collaborates with two Companies; Aims at Enhancing …

Both the companies will offer ‘public disclosure information’ and ‘smart contract audit information’ for digital currencies registered on Coinone.

The leading crypto exchange firm of South Korea, Coinone has teamed up with two companies, namely, CertiK-a cybersecurity audit company and Xangle – a disclosures firm to improve security and transparency attributes.

As per the Coinone announcement on August 7, the company has inked a deal on white paper with CertiK and Xangle. Both the companies will offer ‘public disclosure information’ and ‘smart contract audit information’ for digital currencies registered on Coinone.

As part of the collaboration, Xangle will function on project transparency and investor protection, and CertiK will monitor the security of the program, project information security, technology validation, screening process, and other.

The report for Xangle mentions that the company will offer security for crypto traders and also enhance the transparency of the projects. The disclosures might contain information about new tokens, investment stocks volatility, modifications in a project’s business framework, and token governance.

CertiK will examine projects at the code level and will carry audits of project registered on Coinone, according to the company announcement.

South Korea’s no.3 cryptocurrency exchange mentioned,

Coinone strives to establish a listing system and strengthen the public function of the exchange (market surveillance, disclosure, and internal listing) in order to harmonize the two goals of actively listing cryptocurrency and securing investor confidence.

The move comes after three major cryptocurrency firms. Namely, Bithumb, Upbit, and Korbit, along with Coinone, are facing difficulties in updating their bank accounts in the country. The South Korean banking organizations are now requesting for a demand standards from crypto exchanges, following the new guidelines of Financial Action Task Force (FATF). According to new FATF guidelines, it makes crypto exchanges officially responsible for any identified money laundering operations. The limitations are so strong that small scale crypto exchange firms might find it difficult to stand.

Recently, it was reported that the South Korean Financial Intelligence Unit of Financial Services Commission is considering monitoring of the crypto exchanges directly.

Coinone other Developments

Earlier, it was reported by a source, Coinone had revealed its plan to grow its business across Indonesia, in April 2018. The crypto exchange outlined to back six digital currencies in June after launches such as Bitcoin, Ether, Bitcoin Cash, Litecoin, Ethereum Classic, and Quantum.

On the other side, payment business of Coinone and Coinone Transfer- subsidiary cryptocurrency exchange has collaborated with SBI Ripple Asia to simplify blockchain remittance in the country. The new platform is named as ‘Cross’ that will enable customers to send remittances across 8 nations also in Thailand, the Philippines, and China.

According to the information, in the local South Korea press mentions that the main issue for Coinone is the risk that the coins would launch viruses by itself in the crypto exchange and enable to hack it.

About CertiK

CertiK – a US-based company, established in 2017. The company has two members and a co-founder, Ronghui Gu. The blockchain-based cybersecurity startup firm has received investment from Binance Labs and Consensus Labs. CertiK is already operating in South Korea. Back in June 2019, the firm reached a deal with the local blockchain platform, FLETA in order to improve the systems of the company and help protect other components of its system.

Apart from partnering with Coinone, CertiK also introduced a native blockchain on 22nd July.

About Xangle

Xangle is cryptocurrency disclosure firm, headquartered at Seoul. The company offers ‘tear-sheet-style’ details of tokens structure and fundamentals such as formal name, important people, registered address, pricing, and important events.

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South Korea’s Coinone partners with Certik, Xangle to improve security and transparency features

As per the company’s announcement, the two firms will provide “public disclosure information” and “smart contract audit information” for …

South Korean cryptocurrency exchange giant Coinone has tapped cybersecurity audit firm CertiK and disclosures company Xangle to provide more security and transparency.

As per the company’s announcement, the two firms will provide “public disclosure information” and “smart contract audit information” for cryptocurrencies listed on Coinone.

Under the partnership, Xangle will be working on investor protection and project transparency, whereas CertiK will oversee the security of the code, technology verification, project information security, and screening process.

Coinone strives to establish a listing system and strengthen the public function of the exchange (market surveillance, disclosure, and internal listing) in order to harmonize the two goals of actively listing cryptocurrency and securing investor confidence,” the number three crypto exchange in the country said.

The news follows after Coinone, along with three crypto firms (Bithumb, Upbit, and Korbit), is reportedly having a hard time renewing their accounts in South Korean banks. The country’s banking institutions are now asking for demand requirements from exchanges, after the new Financial Action Task Force (FATF) guidelines make them legally liable for any detected money laundering activities. The restrictions are so tight that smaller crypto exchanges may find it hard to survive.

Meanwhile, Coinone’s payment business and subsidiary crypto exchange Coinone Transfer has partnered with SBI Ripple Asia to facilitate blockchain-based remittance in South Korea. Dubbed as Cross, the new platform can now allow users to send remittances in eight countries, including China, Thailand, and the Philippines.

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At the same time Spendcoin SPND/BTC on Bittrex exchange is 0.01. The trading volume on Bittrex is 452992.00. Spendcoin SPND/ETH on ZG.

As at 2019-08-07 average Spendcoin price is 0.00882763 USD, 0.00000076 BTC, 0.00003904 ETH.

It’s noteworthy that is issued into circulation Spendcoin.

Spendcoin SPND/BTC on Bitsdaq exchange is 0.01. The trading volume on Bitsdaq is 462962.00.

At the same time Spendcoin SPND/BTC on Bittrex exchange is 0.01. The trading volume on Bittrex is 452992.00.

Spendcoin SPND/ETH on ZG.TOP exchange is 0.05. The trading volume on ZG.TOP is 5.47.

Spendcoin SPND/ETH on Token.Store exchange is 0.11. The trading volume on Token.Store is 20.51.

Spendcoin SPND/BTC on Upbit exchange is 0.01. The trading volume on Upbit is 453297.00.

In this regard, 24 hour trading volume is 1033960.38141600 USD or 89.01708498 BTC. At the same time Spendcoin market capitalization is 4280203 USD or $368 BTC.

Spendcoin average change within 24 hour is -7.56 against USD, -6.17 against BTC, -5.08 against ETH. Weekly report: -25.24 against USD, -38.21 against BTC, -30.48 against ETH. Monthly report: -52.44 against USD, -53.13 against BTC, -35.96 against ETH.

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As at 2019-08-07 average Unikoin Gold price is 0.03605197 USD, 0.00000309 BTC, 0.00015945 ETH.

In this regard, 24 hour trading volume is 414033.75261320 USD or 35.48666815 BTC. At the same time Unikoin Gold market capitalization is 5185981 USD or $444 BTC.

Unikoin Gold UKG/BTC on Bittrex exchange is 0.04. The trading volume on Bittrex is 196727.00.

At the same time Unikoin Gold UKG/BTC on Liquid exchange is 0.08. The trading volume on Liquid is 2.49.

Unikoin Gold UKG/BTC on Upbit exchange is 0.04. The trading volume on Upbit is 196782.00.

Unikoin Gold average change within 24 hour is 12.56 against USD, 13.19 against BTC, 15.58 against ETH. Weekly report: 0.72 against USD, -17.16 against BTC, -6.34 against ETH. Monthly report: 92.74 against USD, 88.34 against BTC, 159.58 against ETH.

It’s noteworthy that is issued into circulation Unikoin Gold.

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It’s noteworthy that is issued into circulation VeriBlock. VeriBlock VBK/BTC on Bittrex exchange is 0.02. The trading volume on Bittrex is 20418.00.

As at 2019-08-07 average VeriBlock price is 0.02120966 USD, 0.00000182 BTC, 0.00009380 ETH.

VeriBlock average change within 24 hour is -1.21 against USD, -0.55 against BTC, 1.44 against ETH. Weekly report: 15.55 against USD, -5.21 against BTC, 7.45 against ETH. Monthly report: -35.52 against USD, -36.71 against BTC, -13.17 against ETH.

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