South Korean Crypto Exchange Coinone Teams With Two Firms To Upgrade Security

News | August 8, 2019 By:

South Korean crypto exchange Coinone has teamed with cybersecurity audit firm CertiK and disclosures company Xangle to improve its security and transparency features.

Coinone, the third-largest crypto exchange in South Korea after the Kakao-backed Upbit and Bithumb, said in a press release that CertiK and Xangle will provide “public disclosure information” and “smart contract audit information” for cryptocurrencies listed on its platform.

Under the partnership, Xangle will be using its cryptocurrency disclosure platform to provide protection for crypto investors and make projects more transparent. CertiK, on the other hand, will use advanced mathematics to verify if programs are safe and secure.

“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 exchange said.

The news came after Coinone announced that its subsidiary Coinone Transfer has partnered with SBI Ripple Asia, the Asia-Pacific partnership of Japanese financial services company SBI Holdings and blockchain startup Ripple, to promote Ripple’s overseas remittance solution and foster domestic blockchain ecosystem in South Korea.