Former CEO of the bankrupt exchange MtGox Mark Karpeles announced at the Korea Blockchain Week conference in Seoul that he is launching a new crypto platform EllipX in Europe. According to him, the exchange will start operating in September.

Mark Karpeles emphasized that the new team plans to pay special attention to the transparency of the platform and its convenience for clients. EllipX will be focused on the European market, and the head office is planned to be opened in Poland.

“The new EllipX exchange we are launching in Europe has a lot in common with the New York Stock Exchange, but is focused on the crypto market. I will be taking the position of CTO,” Karpeles said.

According to him, work is currently underway to ensure that the platform complies with the European Union’s MiCA (MiCA) regulation. In addition to checks by European regulators, the exchange will share technical information with users to demonstrate full transparency.

This format of work is due to the experience of working with MtGox, the hacking of the platform in 2014 and the complex procedure for returning funds to affected users, Karpeles noted.