CrossAngle, operator of the global crypto asset disclosure platform Xangle, announced that it has successfully completed its Series A2 investment round by Hanwha Investment & Securities, a licensed securities brokerage subsidiary of South Korea’s Hanwha Group.
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The 4 billion won (US$3.3 million) funding is significant because CrossAngle has managed to convince an incumbent financial industry player of its potential just a year and a half into its operations. The funding is expected to enable the company to build the foundations and infrastructure for institutionalizing data services for crypto assets, which is currently regarded as one of the essential pillars for the industry.
Hanwha Investment & Securities is one of the major securities brokerages in South Korea and is a subsidiary to Hanwha Group, one of Korea’s largest conglomerates alongside Samsung, Hyundai, LG, and SK. Hanwha Investment & Securities is currently working to strengthen its digital capabilities, and is the first investment firm in South Korea to create a subsidiary that deals with ‘big data.’
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Xangle collects, verifies, and integrates corporate disclosures from global projects and companies that have issued crypto assets. This information is made public along with on-chain blockchain data, all of which are displayed in a user-friendly format to help the public’s understanding of the crypto assets. One of the key issues concerning on-chain data is the difficulty associated with analyzing raw data. Xangle provides both off-chain corporate disclosures and easily accessible on-chain metrics and analytics to the public.
CrossAngle aims to consolidate and standardize information so that access and understanding of crypto assets is easier for everyone. As crypto-assets transcend existing national boundaries and languages, a platform to accommodate the broad user base is necessary. The standardized disclosure content Xangle provides will make it easier for projects and stakeholders in different parts of the world to communicate: for projects to share and disseminate their latest information, and for exchanges, funds, and holders to conduct proper due diligence and systematically monitor each project’s progress.
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