Former Mt. Gox CEO Mark Karpeles plans to launch his new cryptocurrency trading platform EllipX later this month, focusing on transparency and user-friendliness, Odaily Planet reported.

The platform, which is scheduled to launch in Europe and be headquartered in Poland, will be structured similarly to the New York Stock Exchange, but for cryptocurrencies, Karpeles said.

To ensure transparency on the platform, Karpeles plans to separate the different working bodies of the trading platform.