Modulus Selects BitGo for World's Most Secure Crypto Exchange Technology
Modulus, a US-based developer of ultra-high-performance trading and surveillance technology that powers global equities, derivatives, and cryptocurrency exchanges, today announced BitGo, the market leader in institutional-grade cryptocurrency security, as a technology partner in its new high-frequency exchange solution.
SCOTTSDALE, Ariz., Jul. 26, 2018 /PRNewswire-PRWeb/ -- Modulus, a US-based developer of ultra-high-performance trading and surveillance technology that powers global equities, derivatives, and cryptocurrency exchanges, today announced BitGo, the market leader in institutional-grade cryptocurrency security, as a technology partner in its new high-frequency exchange solution.
"When we started out to build the world's fastest exchange solution, we knew that it wasn't enough to be the quickest. We knew that it had to lead the sector in security, too. To that end, we partnered with the best in the business to protect exchanges and their users at the highest levels," said Richard Gardner, CEO of Modulus.
When defining security protocols, Modulus analyzed multiple sophisticated attack vectors to prevent potential account vulnerabilities before partnering with BitGo, which offers the world's most secure multi-signature bitcoin wallet and custodial solution.
"BitGo was founded to build institutional-grade security, storage, and compliance solutions for cryptocurrency investors, and this focus on enterprise and institutional clients sets us apart," said Mike Belshe, CEO of BitGo. "Modulus shares our focus on these clients and our commitment to building the market infrastructure that the cryptocurrency industry has been missing. This lack of infrastructure has been a deterrent for many investors and we're pleased to be working with partners like Modulus to make it a reality."
Exchanges utilizing the Modulus solution are protected by multiple security layers, including two-factor authentication, hardware security, anti-phishing features, geofencing that also detects VPNs and Tor nodes, multiple levels of database encryption, DDoS mitigation, network and trade anomaly detection, and independent penetration testing and source code analysis.
"When evaluating security protocols, the devil is the details, and the details are going to evolve with the industry's coming regulation," explained Gardner. "We didn't design our exchange solution solely for today or tomorrow. We designed it for the future." The solution uses machine learning to analyze pre-trade and post-trade data to identify suspicious activity, including pass-through trades, wash trades, spoofing, stuffing, hammering, momentum ignition, and money laundering, allowing administrators to freeze accounts as needed and generate Suspicious Activity Reports for regulators.
Modulus has been developing high frequency trading systems, exchanges, trade surveillance systems, and risk management systems for over twenty years. Clients include Goldman Sachs, Merrill Lynch, JP Morgan Chase, Bank of America, Barclays, Morgan Stanley, HSBC, TD Ameritrade, CME Group, and thousands of other clients in over 90 countries.
About Modulus Global:
Since 1997, Modulus has provided advanced financial technology products and services to professional traders, brokerages, trading firms, exchanges, and educational, governmental, and non-profit institutions throughout 94 countries. The company's products and services reach millions of users around the world.
About BitGo:
BitGo, Inc. is the market leader in institutional-grade cryptocurrency investment services. BitGo is the world's largest processor of on-chain bitcoin transactions, processing 15% of all global bitcoin transactions, and $15 billion per month across all cryptocurrencies. The company has over $2 billion in assets in wallet, and a customer base that includes the world's largest cryptocurrency exchanges and spans more than 50 countries.
To schedule an interview with CEO Richard Gardner, contact Modulus Chief Communications Officer Charles Catania at c.catania(at)modulusglobal(dot)com, or via telephone at 860-299-3689.
SOURCE PRWeb House E-Commerce
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