Hanwha invests $3 million in a crypto coin startup

The major South Korean conglomerate Hanwha Group is consolidating its participation in the crypto industry with a new investment.

Hanwha Investment & Securities, a securities brokerage subsidiary of Hanwha Group, participated in a 4 billion Won ($3.3 million) financing round in the crypto company CrossAngle.

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Xangle specializes in corporate information gathering for crypts
Announcing the news on July 16, CrossAngle said that the investment in the A2 Series is expected to enable the company to develop an infrastructure to internalize crypto data services. Incorporated in Singapore, CrossAngle is building Xangle, a public crypto currency broadcasting service focused on providing transparent data for crypto currencies such as Bitcoin (BTC).

In order to provide its information dissemination service, Xangle collects, verifies and integrates corporate information from projects and companies worldwide that have issued cryptoactives. The platform provides the public with access to both off-chain corporate publications and on-chain metrics and analysis.

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More than 800 crypt coins are listed in Xangle

According to the announcement, Xangle’s global partner network includes more than 60 exchanges so far, with countries such as South Korea, Japan, China, Southeast Asia, Russia, the United States, as well as European jurisdictions. The company claims to provide the publicly accessible broadcast data for more than 800 cryptoactives to date.

James Junwoo Kim, CSO and co-founder of CrossAngle, said the new funding will help Xangle make „significant contributions to the advancement of the industry and expand the frontiers of the industry as a whole.

Hanwha Investment & Securities is a subsidiary of Hanwha Group, one of South Korea’s largest conglomerates along with companies such as Samsung, Hyundai, LG, and SK Group.

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The investment comes in the midst of Hanwha Investment & Securities boosting its digital experience. Earlier this year, the company participated in a $31 million Series A round of financing in the Lightnet blockbuster.