On May 3rd, Korbit, CPDAX, and GOPAX, three main crypto
exchanges in South Korea, announced their partnership with CrossAngle
to enhance the reliability of their coin listings. The partnership
provides a breakthrough for the global crypto market in overcoming the
existing problems of missing and unreliable data.
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https://www.businesswire.com/news/home/20190508006018/en/
Xangle (https://xangle.io), a public data disclosure service developed by CrossAngle (Graphic: Business Wire)
Today’s crypto market is clouded by hype, proliferating with information
from unknown sources that have no substance, merely causing FUD.
Moreover, essential details for analysis such as business performance
indicators and technical milestones achieved cannot be found in many
cases. This lack of credible and comprehensive data is a major issue for
both investors and exchanges, as they are unable to make informed
decisions or identify pump-and-dump schemes. In addition, institutional
players who are important for the growth of the crypto market, will not
take part while these problems persist.
CrossAngle has developed a data disclosure platform, Xangle
to tackle these problems. Data gathered directly from the crypto
projects and is rigorously validated before official disclosure. The
standard for data disclosure is based on the framework of the
traditional financial market’s public disclosure platforms such as DART
(S.Korea), EDGAR (US) and international credit rating corporates (S&P
Global Ratings, Moody’s, Fitch), which have been re-interpreted to meet
the needs of the crypto market. Xangle currently includes around 75 data
points structured into 7 key categories, covering both on-chain and
off-chain data.
As a part of this partnership, CrossAngle will provide the exchanges
with due diligence reports that contain exhaustive data on crypto
projects extracted from Xangle. The exchanges will use these reports to
evaluate the eligibility of new coin listings and the performance of
existing cryptocurrency projects. In turn, this is expected to improve
investor confidence.
Mun-Gyu Seo, General Director of CPDAX, believes that CrossAngle’s
service will be “the guiding light for investors” navigating the crypto
market. “We have no doubt that Xangle will be more than just an
information disclosure platform,” commented Se-jin Oh, CSO of Korbit,
who foresees Xangle to become “a model standard for the ecosystem as a
whole.”
Lee Jong-Hang, the CEO of GOPAX believes “This project will help reduce
the information gap among all stakeholder and restore trust and
integrity in the crypto market. GOPAX looks forward to continuing
contributing to the sustainable development of a healthy ecosystem by
collaborating with projects Xangle.”
Working in collaboration with an increasing number of global exchanges,
investors and crypto projects, CrossAngle envisions institutionalizing
crypto disclosure practices in pursuit of a healthier crypto market.
About CrossAngle
CrossAngle is a company building Xangle,
a public data disclosure service for the global cryptocurrency market.
By promoting data disclosure practices on Xangle, the company aims to
tackle the problem of information asymmetry pervasive in the crypto
market today. Download our company introduction here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190508006018/en/