Singapore-based Xangle, a global crypto-asset disclosure platform operated by CrossAngle has obtained a US$ 3.3M in a Series A2 funding round held in July 2020, led by Hanwha Investment & Securities.
Capital raised is expected to enable the company to develop an infrastructure for institutionalizing crypto data services. Xangle is a global leading crypto asset disclosure platform working with global leading players to bring data transparency by providing full scope information on assets. Headquartered in Singapore, Xangle is focused on providing transparent data for cryptocurrencies like Bitcoin (BTC).
The startup collects, verifies and integrates corporate disclosures from global projects and companies that have issued crypto assets, as the platform provides public access to both off-chain corporate disclosures and on-chain metrics and analytics.
As per the report, Xangle‘s global partner network has more than 60 exchanges so far, highlighting countries like South Korea, Japan, China, Southeast Asia, Russia, the United States, as well as European authorities. The firm claims to provide the public access disclosure data for over 800 crypto assets to date.
James Junwoo Kim, the co-founder of CrossAngle, who successfully led this funding round said, “Resolving existing industry problems and creating a solid data/information ecosystem based on stakeholder participation is crucial to the industry’s growth and eventual mass adoption. With the latest funding, he hopes that Xangle can make significant contributions to the advancement of the industry and expand the boundaries for the industry as a whole.”
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. The firm 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.’ With this investment, Hanwha Group is set to cement its involvement in the cryptocurrency industry.
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