OAX Foundation announced on their Medium blog the latest partnership with Solidus Labs, a compliance company on digital assets trading. The partnership is set to improve the regulation and management of digital asset trading to increase overall global adoption of cryptocurrencies.
Our new partnership with @Solidus_Labs x #OAX_Foundation!
Combining enhanced #DigitalAsset #Surveillance to bring digital asset trading into the mainstream, we are one step closer to building a sustainable industry!https://t.co/nSRk5f7Dqa#Open #Transparent #Decentralized
— OAX (@OAX_Foundation) March 14, 2019
The Hong Kong-based exchange, OAX Foundation is building an efficient and sustainable digital asset platform with strong governance. The latest partner from New York, Solidus Labs on its part aims to provide surveillance software to combat the manipulation on digital assets and improve adoption of cryptocurrencies. The machine learning software will detect, investigate and report any form of manipulation of trades on the system. This provides a better environment to trade while promoting compliance of the digital assets.
The industry has long been crippled with massive manipulation of trading volumes and prices across the field. This has formed a barrier to entry for most investors as they fear to invest in falsified numbers and manipulated markets. The need for proper market surveillance is key to stop the manipulation hence the partnership with Solidus Labs that focuses on the regulation and operation of digital assets markets. The latest partnership between OAX Foundation and Solidus Labs is set to open a new route to promote fair trades on the exchange a provide effective market oversight and governance.
Speaking on the partnership, the General Manager of OAX Foundation, Amanda Liu highlighted the importance of Solidus Labs as the two companies share a goal to boost the adoption of digital assets. She further remarked on the importance of the partnership saying,
“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.”
The CEO and founder of Solidus, Asaf Meir, shared the testament of the partnership saying the two companies will work towards providing combating market manipulation. Furthermore, he said having a fair and manipulation free market will increase the credibility of trading cryptocurrencies and increase investment in the industry (especially institutional investors). As the first Asia based company to partner with Solidus Labs, Asaf praised the OAX Foundation for the solutions provided by the cryptocurrency exchange. He further vowed to integrate its software to combat any form of market manipulation on the exchange.