OAX Foundation and Solidus Labs announce collaboration

OAX Foundation, a Hong Kong-based Open Transparent Decentralized Exchange, and Solidus Labs, Digital Asset Trade Surveillance provider announced a partnership on 14 March.

OAX commenced that this embrace was executed with the shared aim of bringing digital asset trading into the mainstream. A highlight is that this is Solidus Labs’ first strategic partnership in Asia. This reflects the importance of Asia in the global digital assets industry.

OAX expressed that its aim is to promote a sustainable digital asset industry based on principles of strong regulation. Solidus Labs, the brainchild of former Goldman Sachs FinTech engineers, provides machine learning powered market surveillance. This fosters greater compliance to the industry.

As part of the partnership, the two firms would work hand-in-hand to increase awareness of the role that frankness and transparency should play in the development of digital asset trading.

OAX captured the hindrance that is preventing mass adoption of digital assets. This is attributed to the high levels of market manipulation across the industry. To combat this manipulation, effective trade surveillance tools are important. Solidus Labs platform has been developed to address these needs. OAX Foundation and Solidus Labs would promote market foresight and governance as elements to the future success of the industry.

Amanda Liu, General Manager of OAX Foundation, cited –

“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 added that tackling market manipulation is vital to increasing the integrity of digital assets and promoting institutional investments. Asaf noted that the machine learning powered surveillance software developed by Solidus Labs is already helping broker-dealers, exchanges, and market makers tackle manipulation.

Such collaborations help to expand the frontiers of peer-to-peer technologies.

Earlier this week, OAX had reported about the importance of trade surveillance. OAX had conveyed that legal and regulatory experts had commented on unbridled “front-running and price manipulation ” as some of the major reasons preventing mainstream acceptance of cryptocurrency.

OAX concluded by sharing key awareness about OAX Foundation and Solidus Labs. OAX Foundation Limited is a company set up to develop and promote digital asset trading for the general masses. Solidus Labs’ mission is to connect traditional finance and the new digital economy through a proven infrastructure.