SOUTH KOREA PLANS TO LUNCH NEW BITCOIN EXCHANGER

South Korean company “Fourth Link,” the shares of which are traded on the local stock exchange Kosdaq, announced plans to launch its own bitcoin-exchange and create a global network for the exchange of cryptocurrencies as reported by Bitcoin.com.

The new platform will be called “Coinlink” and will become the first exchange in South Korea to be managed by a company represented on the stock exchange. It is expected that its launch will take place in August through a subsidiary of Certon.

At the moment, the largest crypto-exchanges in South Korea are Bithumb, Coinone and Korbit.

In addition, Certon plans to expand its global network, having reached an agreement on cooperation with the Glosfer company. The latter calls itself the first blockchian in South Korea for transactions.

According to representatives of Certon, the company plans to enter into strategic alliances with the major crypto-exchanges in Japan and China, as well as with other partners in the United States, the Philippines, Indonesia, Ethiopia, Estonia and other countries.

It is noteworthy that “Fourth Link’s” main business is not connected with cryptocurrencies – the company specializes in selling coal to railway companies and power stations in South Korea and abroad, as well as the construction of communication systems.

We’d like to remind you that earlier in July the ruling Democratic Party of South Korea announced the beginning of the preparation of new legislation aimed at strict regulation of the turnover of cryptocurrencies.

At the same time, as of July 18, South Korean fintech companies will be able to offer international legal transactions in bitcoins on a legal basis.