Korea’s cryptocurrency exchanges Korbit, GOPAX and CPDAX will disclose information on cryptocurrencies in public.

The three exchanges said Friday that they had formed partnerships with CrossAngle that had developed a cryptocurrency information notice platform. CrossAngle receives information directly from blockchain projects and discloses the information on its own platform Xangle. The company also draws up a listing eligibility report on a specific project based on the relevant information. Then exchanges can use the report as the indicator to evaluate the project’s listing and performance.

“We publicly announce cryptocurrency-related information based on disclosure standards like DART of the Financial Supervisory Service and EDGAR (Electronic Data Gathering, Analysis and Retrieval) of the United States and evaluation standards by such international rating agencies as S&P and Moody’s. We reinterpret the established disclosure system in the stock market for the cryptocurrency market,” a CrossAngle official said.

The latest partnerships are designed to ensure confidence in cryptocurrency information that has been opaque and tide over problems arising from information asymmetry. The three exchanges said they will take the lead in enhancing confidence in listing and post-listing activities of projects.

Seo Mun-kyu, director of CPDAX, said, “This service will serve as guidance for cryptocurrency investors.” Oh Se-jin of Korbit said, “We aim to create a set of model guidelines for the overall ecosystem beyond the provision of information simply.” GOPAX CEO Lee Jun-haeng also said, “This service is a project that could narrow the digital divide between all stakeholders. It will contribute a great deal to restoring confidence in the cryptocurrency market.” /hyun@decenter.kr

사동석 기자

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