Modulus’ crypto trade enhancement to get rid of cash laundering in P2P transfers » CryptoNinjas

This morning, Modulus, a US-based developer of ultra-high-performance buying and selling and surveillance expertise that powers international equities, derivatives, and digital asset exchanges, introduced that it has launched its new P2P Inside Transfers System, permitting merchants to switch funds to 1 one other whereas actively cracking down on makes an attempt at cash laundering.

“That is the primary of a handful of recent techniques and options that we’ll be rolling out of the subsequent few weeks. We constructed these enhancements with two targets: permit exchanges to provide their merchants higher freedom to make the most of their property as they see match and produce belief again to cryptocurrency. This accomplishes each,” mentioned Richard Gardner, CEO of Modulus.

The brand new resolution incorporates Modulus’ patent-pending AML system to forestall cash laundering whereas permitting merchants to maneuver their property with fewer technical steps. The answer shall be included into Modulus’ white-label high-frequency trade resolution, which permits exchanges to scale greater than 10 million transactions per second with lower than 40-nanosecond latency. The answer additionally options machine studying commerce surveillance which leverages commerce knowledge in monitoring and stopping illegalities inside the market.

“Our builders are engaged on tasks that make cryptocurrency safer and assist get exchanges consistent with future regulatory necessities — compliance points that we’ve been monitoring — all whereas giving their merchants added worth. There’s no query that digital property will turn into extra regulated as time goes on. We’ve been watching the watchers, and it’s our job to make sure that our shoppers are at all times forward of the regulatory curve. This new resolution is one thing that we imagine will be sure that our shoppers are extra compliant than the business as a complete. That turns into a strategic differentiator in the event you’re an trade and you’ll present potential clients that you simply’re invested in securing their property. Safety issues, not simply to regulators, however, additionally, to merchants,” Gardner opined.

“Unhealthy information makes higher headlines than excellent news. In crypto, the information cycle is much more brutal as a result of there are a variety of highly effective folks actively rooting towards the business’s success. We’re working laborious to make it possible for our shoppers don’t find yourself on the naughty record. It isn’t sufficient, anymore, for an trade to react to regulatory coverage after it has occurred. One of the best exchanges put together for threats earlier than they’re even on the regulators’ radar. That’s the place we are available,” famous Gardner.

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