SEATTLE, WA & NEW YORK, NY / ACCESSWIRE / January 12, 2021 / Bittrex, the premier U.S.-based blockchain platform, and a leading global digital asset exchange, announced today that it has selected Solidus Labs as a strategic compliance partner.
As part of the partnership, Bittrex will deploy Solidus Labs' crypto-native risk monitoring and market surveillance software to protect its users from market abuse, ensure market integrity, and address evolving regulatory requirements. Solidus Labs' solution was designed uniquely to address crypto's unique new threats and fraud prevention challenges. By deploying Solidus Labs, Bittrex is adopting the highest standards of crypto risk monitoring and compliance.
"Bittrex is leading the crypto industry's regulated growth," said Asaf Meir, Solidus Labs' Chief Executive. "As the institutional and public interest in digital assets continues to increase, and as regulators increasingly tighten the requirements from the industry, we're delighted to partner with Bittrex to power a scalable, precise, and efficient risk monitoring and manipulation-prevention program."
Today's announced partnership with Solidus Labs will extend Bittrex's ability to detect market manipulation and monitor for suspicious transactional behavior using advanced behavioral-based models and statistical analysis. Solidus Labs' detection capabilities include known forms of market manipulation like wash-trading and spoofing, as well as a growing list of new crypto-specific concerns.
Mike Carter, Bittrex's Chief Compliance Officer, emphasized that "Solidus Labs' crypto-native design will further enable us to ensure that as more customers rely on Bittrex to engage with virtual currencies, we continue to maintain the highest levels of trust and safety." He added that "Solidus' innovation in risk monitoring makes it a natural partner for us as Bittrex is dedicated to continuous improvement and effective compliance."
Bittrex's mission is to help advance the blockchain industry by fostering innovation, incubating new and emerging technology, and driving transformative change. Bittrex is dedicated to operating a world-class cryptocurrency exchange with a focus on security and trust. Founded in 2014 by three cybersecurity engineers, Bittrex became the first exchange to light the torch of trust by putting a human face in front of a blockchain platform. Bittrex provides the widest selection of cryptocurrencies in the United States along with fast trade execution and dependable digital wallets, all protected by industry-leading security practices.
About Solidus Labs
Solidus Labs is a team of finance veterans on a mission to enable safe and regulated crypto markets through tailored compliance and risk monitoring solutions. The firm offers the first crypto-native, comprehensive, automated, and testable market surveillance and risk monitoring hub tailored for digital assets. Crypto businesses globally rely on Solidus' solutions in order to apply for licensing, attract institutional investors, protect their users, and grow faster - and safer.
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SOURCE: Solidus Labs
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