• EDX Markets has chosen Solidus Labs’ HALO platform as a central tool to manage and assess risk, prevent financial crime and comply with evolving regulatory requirements.
• Through this partnership, EDX plans to provide customers with seamless end-to-end transactional risk management capabilities.
• Solidus Labs’ machine learning-powered detection models and Universal Client Risk Profile will help identify unusual or suspicious activity on its platform.
EDX Partners With Solidus Labs
EDX Markets (EDX), the first-of-its-kind crypto exchange backed by a consortium of major Wall Street firms announced today that it has partnered with Solidus Labs to provide transaction monitoring across EDX’s platform.
Transaction Monitoring Solution
Through this partnership, EDX plans to provide customers with seamless end-to-end transactional risk management capabilities in order to maintain the highest compliance standards across the cryptocurrency industry and reflect key institutional best practices. Solidus Labs’ HALO, an automated, comprehensive and testable trade surveillance and market integrity hub tailored for digital assets, is currently used to monitor over 250 million events and $16 trillion in on- and off-chain trading volume per day across more than 150 markets, protecting more than 25 million individual and institutional investors.
Solidus’ Machine Learning Powered Detection Models
EDX will leverage Solidus Labs’ machine learning-powered detection models and Universal Client Risk Profile capability to identify unusual or suspicious activity on its platform, and review and coordinate the appropriate risk response. Chris Tyrrell, Chief Compliance Officer of EDX said “We are focused on bringing the best of traditional finance to cryptocurrency markets and are committed to ensuring safe and compliant trading.” Asaf Meir , Founder & Chief Executive of solidUs added “Bridging traditional and digital finance through crypto native risk mitigation tools is core to our mission.”
Bringing Best Of Traditional Finance To Crypto Markets
Back by a consortium of major financial institutions such as CitiGroup , JP Morgan Chase & Goldman Sachs , EDX is looking forward towards providing customers with seamless end –to –end transactional risk management capabilities while maintaining highest compliance standards across cryptocurrency industry reflecting key institutional best practices .