Blockchain’s OAX Foundation, Solidus Labs Partner To Bring Crypto Into Mainstreambr>
Based in Hong Kong, the OAX Foundation is an 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. The foundation is currently developing the OAX project, a new decentralized exchange platform that applies some of the latest blockchain innovations to revolutionize digital asset trading.
Founded by former Goldman Sachs FinTech engineers, Solidus Labs provides deep-learning powered surveillance and compliance infrastructure for blockchain-based financial services. Its 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 US and Israel.
Under 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. They will aslo promote effective market oversight and governance as drivers of the future success of the industry.
“Solidus Labs shares our vision of how increased transparency can help bring digital asset trading into the mainstream,” said Amanda Liu, General Manager of the OAX Foundation. “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 that 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,” Meir said. “The 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.”