SEOUL, South Korea--(BUSINESS WIRE)--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.
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.
