Kaiko, a market data provider in the blockchain-based digital assets space, has announced that it has become an associate founding member of the International Token Standardization Association (ITSA) e.V., a not for profit organization aiming for the development and implementation of market standards for the classification of cryptographic tokens.
As a founding member, Kaiko will provide cryptocurrency market data through ITSA’s International Token Database (TOKENBASE), a centralized database for qualitative and quantitative cryptographic token data.
As an independent industry membership body, ITSA unites over 100 international associated founding members from various interest groups, including industry associations, banks, stock exchanges, startups, universities, research institutes, law firms, tax advisors and other industry stakeholders.
In order to increase transparency and safety on global token markets, ITSA currently develops and implements the International Token Identification Number (ITIN) as a market standard for the identification of cryptographic tokens, the International Token Classification (ITC) as a standard framework for the classification of cryptographic tokens according to their inherent characteristics, and the International Token Database (TOKENBASE) as standard for the qualitative and quantitative analysis of these tokens.
Besides these projects, ITSA facilitates the internal exchange of thought through working groups as well as the setup of country and city charters. Externally, ITSA represents the interests of its members and acts as a sparring partner for standardization bodies, regulators, and government agencies.
“As a data provider, Kaiko is well familiar with the difficulties of data standardization in crypto asset markets. With thousands of tokens trading on hundreds of exchanges, standardization is no simple task, requiring significant effort to manually verify and assign a uniform classification to all new assets. Thus, we believe that an international effort like ITSA has the potential to provide essential data norms to all cryptomarkets participants.”