Crypto disclosure platform Xangle raises $3.3m in Hanwha-led round

Circuit boards sit on shelves at a cryptocurrency mining facility in Incheon, South Korea, on Friday, Dec. 15, 2017. Photographer: SeongJoon Cho/Bloomberg

CrossAngle, the South Korean operator of global crypto-asset disclosure platform Xangle, has raised 4 billion won ($3.3 million) in a Series A2 funding round led by Hanwha Investment & Securities, per an announcement.

Founded in 2018, CrossAngle’s platform collects, verifies, and integrates corporate disclosures from global projects and companies that have issued crypto assets. The information helps the public understand crypto assets more, the firm said.

The public can access disclosure data for over 800 crypto assets, of which more than 400 assets are registered and directly maintained by blockchain projects.

“We are actively working with token projects, exchanges, and investors to institutionalize public data disclosure practices,” CrossAngle said.

The fresh funding will be used to strengthen the platform’s infrastructure for institutionalising data services for crypto assets. Currently, the platform has a global partner network of more than 60 exchanges in South Korea, Japan, China, Southeast Asia, Russia, Europe, and the US.

“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,” said CrossAngle co-founder James Junwoo Kim.

CrossAngle said the global cryptocurrency industry is at a tipping point, with government regulations and policies more actively addressing the new asset class.

Major global financial industry players, however, continue to invest in cryptocurrency and blockchain technology despite stiffer regulations.

For instance, a unit of Japanese financial conglomerate SBI Holdings has agreed to buy a minority stake in London-based cryptocurrency market maker B2C2 for $30 million.

Another Japanese firm, Nomura Holdings Inc, has partnered with cryptocurrency players Ledger and CoinShares to launch Komainu, a custodian to safeguard digital assets for financial institutions.

In Singapore, state-owned investment company Temasek Holdings has joined The Libra Association, a Facebook-backed blockchain-based payment system project. Temasek joins cryptocurrency investment firm Paradigm and the private equity group Slow Ventures as a new member of the association.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.