Last week South Korean Shinhan Bank announced that it had signed an agreement with Cross Angle, the operator of cryptocurrency rating platform Xangle. Shinhan Capital is also investing in the startup.
Xangle provides audit reports and analysis of blockchain projects, including the curation of on-chain data. It offers a Credibility Rating which some cryptocurrency exchanges use to vet whether a crypto should be listed. Shinhan Bank intends to use Xangle’s capabilities to develop new services that combine financial and digital asset data, as well as to discover new innovative blockchain companies.
Shinhan is one of the most active Korean banks in the digital asset and blockchain sectors. The bank part-owns Korea Digital Asset Trust (KDAC), a digital asset custody firm. In May last year, KDAC signed its first clients.
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