April 23, 2024

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[THE INVESTOR] Streami, a Koreans fintech startup specializing in blockchain-backed services, on Nov. 13 launched GOPAX, a cryptocurrency exchange platform.

At GOPAX -- Global Online Professional Assets Exchange -- users can trade Bitcoins, Ethereum and Bitcoin Cash for won.

“To provide a broader range of choices for users, we are planning to soon list more altcoins (alternative coins) on the exchange,” said a company official.

Streami also operates StreamWire, a blockchain remittance service launched a year ago with Shinhan Bank. 

The launch of GOPAX came a day after major cryptocurrency exchanges in Korea suffered service glitches. Bithum, the country’s largest cyber currencies exchange, had to shut down its service for two hours from 3:40 p.m. on Nov. 12. The problem occurred after Bitcoin Cash skyrocketed to more than 2.80 million won (US$2,498). Once the services resumed, the value of Bitcoin Cash fell to as low as 2 million won.

Some users have vowed to take legal action against Bithum and other exchanges, saying that they could not sell Bitcoin Cash when it began to fall due to the service shutdown.


By Park Ga-young (gypark@heraldcorp.com)