Hong Kong/New York — March 14th 2019 — OAX Foundation and Solidus Labs have today announced a strategic partnership based around the shared objective of bringing digital asset trading into the mainstream. This is Solidus Labs’ first strategic partnership in Asia, and it reflects the importance of the region in the global digital assets industry.
OAX Foundation aims to promote a sustainable digital asset industry based on principles of strong governance. Solidus Labs, founded by former Goldman Sachs FinTech engineers, provides machine learning powered market surveillance uniquely designed to detect, investigate and report digital asset manipulation and bring greater compliance to the industry. As part of the partnership, the two firms will work together to increase awareness of the role that openness and transparency should play in the development of digital asset trading.
One of the main barriers to mass adoption of digital assets is high levels of market manipulation across the industry. Effective trade surveillance tools are vital to combating manipulation, and the Solidus Labs platform has been developed to address the unique operational and regulatory challenges of crypto markets. As partners, OAX Foundation and Solidus Labs will promote effective market oversight and governance as drivers of the future success of the industry.
Amanda Liu, General Manager of OAX Foundation, said, “Solidus Labs shares our vision of how increased transparency can help bring digital asset trading into the mainstream. They make the perfect partner for us to help advance our goal of an industry that is efficient, secure and based on principles of strong governance.”
Asaf Meir, Founder and CEO of Solidus Labs, said, “Combating market manipulation is crucial to increasing the credibility of digital assets and ushering institutional investments. The ML-powered surveillance software we developed is already helping exchanges, broker dealers and market makers tackle manipulation. OAX Foundation is fast emerging as one of Asia’s leading solution providers to the digital asset industry. Our partnership with them is a major step towards achieving this common goal.”
About OAX Foundation
OAX Foundation Limited is a Hong Kong-based entity set up to develop and promote digital asset trading for the mainstream. It aims to build a sustainable digital asset industry based on principles of openness, transparency, and strong governance.
About Solidus Labs Incorporated
Founded by former Goldman Sachs FinTech engineers, Solidus Labs’ mission is to bridge traditional finance and the new digital economy through compliance infrastructure tailored for digital assets. The company envisions a healthy digital asset ecosystem where innovators and regulators work together to benefit consumers, markets, economies and societies. Solidus Labs’ machine learning-powered market surveillance platform was designed uniquely for digital assets and is currently deployed with diverse clients including exchanges, broker-dealers, hedge funds and market makers in Europe, the United States and Israel.
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