Mark Karpelès, the former CEO of the defunct Mt. Gox cryptocurrency exchange, is preparing to launch a new platform called EllipX by the end of September 2024.

Based in Poland, this new exchange aims to serve European users initially, with plans for global expansion. EllipX will focus on transparency and user-friendliness, addressing the growing demand for secure and reliable trading platforms.

https://x.com/coingecko/status/1831212760077873220

The platform is also expected to comply with the EU’s Markets in Crypto-Assets Regulation (MiCA), ensuring strict oversight and regular third-party audits to maintain operational transparency.

This move comes as Karpelès looks to regain trust in the crypto community, and as part of this effort, former Mt. Gox users will receive at least a 50% discount on trading fees at EllipX​.

EllipX will initially offer crypto-only services, with potential future expansions into banking and fiat currency services. The platform aims to provide an intuitive experience for both newcomers and seasoned traders alike​.

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