Alchemy Pay announced that Coinone, the world’s 14th largest cryptocurrency exchange by spot volume, now supports trading and custody of ACH. According to a press release published on 3 September, the South Korean exchange serves a highly liquid market of traders that have recently shown increased interest in utility tokens.
An ERC-20 utility token, ACH enables users to spend over 20 different cryptocurrencies with online and physical retailers on the Alchemy Pay network.
John Tan, the CEO of Alchemy Pay, said that Coinone has built a reputation as a responsible and popular exchange, mostly due to its unblemished security record.
“Our listing on Coinone will be an excellent point of reference and awareness for crypto-fiat payment gateway clients in the South Korean market,” he said in the company’s press release.
Reputation has become increasingly important in the South Korean crypto industry, as the market has been faced with scrutiny from regulators. Along with Bithumb, Kobit, and Upbit, Coinone is expected to become among the first exchanges to receive the complete set of regulatory approvals currently in effect in South Korea. The exchange has also been one of the earliest adopters of KYC and AML guidelines in the country.