XCHG brings together Xpansiv - a data refinery and next-generation platform - with global commodity spot exchange CBL Markets.
“The XCHG platform is designed for a new asset class—data,” said XCHG CEO Joe Madden.
“XCHG ingests data sourced from each commodity’s lifecycle and converts it into Intelligent Commodities, digital assets that enable transactions based on comprehensive information linked to source data.
“The demand for commodity information is rising faster than traditional markets can adapt. XCHG provides a scalable pathway to transparency by leveraging existing data and technology to support the transaction of Intelligent Commodities.”
CBL Markets’ president and COO John Melby said: “The complementary nature of these two teams is unusual.”
“If you follow the trends, market participants are looking for authenticated information to make better decisions. This merger will put XCHG at the forefront of the Digital Commodity Ecosystem.”
“Data is the new commodity,” said XCHG Chief Strategy Officer Nathan Rockliff.
“Trillions of dollars are in flux due to the frozen liquidity of information. We plan to unlock that data and provide markets with unprecedented insights and opportunities. For the first time, it’s possible to map, buy, and sell unique attributes that are permanently traceable—from source to market.”