WeMade entrusts ‘Wemix’ to Binance…Wemix price rises 15%

/ Photo = Provided by Wemade

WeMade announced on the 4th that it has decided to use the Binance Escrow service after consulting with Binance Institutional Services.

The decision to use Binance Escrow is part of various ways to strengthen Wemix’s own management system. When the technical procedures are completed, Wemix will be transformed into a management system through Binance Custody.

WeMade faithfully fulfills its promise to strengthen its own management system, such as ▲ updating Wemix’s estimated distribution size by period ▲ strengthening the regular disclosure system ▲ entrusting Wemix Foundation stock to holding companies, and expanding the mega-ecosystem by strengthening the security and transparency of the Wemix scheme

Hyunguk Jang, CEO of WeMade, said, “We will lay the foundation for building a system that can verify the Wemix ecosystem through the Binance Escrow service that combines security and state-of-the-art solutions.” We are setting up a completely transparent Wemix distribution management system. that can be stopped at the source.”

In addition, the price of Wemix increased on the news that WeMade entrusted Wemix to Binance. At 3:30 pm on the 4th, based on the virtual asset exchange Upbit, Wemix was traded at 1,400 won per piece. This is an increase of around 15% compared to the previous day.

Meanwhile, WeMade has issued a temporary injunction against Upbit, Bithumb, Coinone, and Korbit’s decision to terminate Wemix transaction support. A temporary injunction will be decided on the 7th. Previously, the four major virtual asset exchanges in Korea decided to end Wemix transaction support due to distribution problems and damage to trust.

Reporter Seongwoo Lee