The SEC and FINRA-approved digital asset ATS will harness Solidus Labs' streamlined and consolidated client onboarding solution to onboard clients faster, without compromising compliance checks
NEW YORK, NY / ACCESSWIRE / October 21, 2020 / Rialto Markets, an SEC and FINRA registered broker-dealer and ATS providing comprehensive services for digital securities issuance, investment and trading, announced today it has selected Solidus Labs as a strategic compliance partner. Solidus Labs, which specializes in compliance and risk monitoring solutions for digital assets, will support Rialto's response to high demand for its services, providing a pristine and streamlined client onboarding platform and supporting other compliance back-office operations. As part of the partnership, Rialto also plans to utilize Solidus' crypto-native surveillance and risk monitoring solution to ensure the integrity of its markets.
The partnership will allow Rialto to onboard more clients to their platform faster, without compromising compliance checks. Solidus' onboarding solution consolidates the many different verifications required by regulators when welcoming new clients. In addition to creating a streamlined experience for new clients, Solidus' Unified Risk Management dashboard will consolidate all data to construct a Universal Client View, allowing Rialto to correlate trading activity with risk trends per account.
"We are very excited to be working with Solidus. As Rialto's customer base, pipeline, and operational connections continue to expand, the Solidus platform provides us with the ability to scale effectively and meet the challenges of a rapidly growing business." Says Joel Steinmetz, Rialto's COO.
In May 2020, Rialto received its approval from FINRA to operate an alternative trading system (ATS) for private market digital securities. The firm applies the intelligence of blockchain technology to offer new capital formation opportunities for issuers, investors, and traders. By utilizing smart contracts in the form of digital securities, Rialto simplifies the complexity of capital formation and addresses existing friction, exclusivity, and inefficiency in private markets.
Watch: Solidus Labs CEO Asaf Meir in a fireside chat with CFTC Commissioner Dan Berkovitz, during the
Digital Asset Compliance and Market Integrity Summit (DACOM) in October 2020, hosted by Solidus Labs and CryptoCompare
"We're proud to service one of the leaders of this nascent, yet fast-growing market," says Asaf Meir, Chief Executive Officer at Solidus Labs, adding: "Rialto has done remarkable work in establishing cutting edge investment infrastructure operating within an approved regulatory framework. Investors are keen on digital assets and their potential but are still concerned about its risks. Rialto's regulation-focused approach and execution is the key to bridging this gap, and we're delighted our tailored compliance solutions will support this effort."
Ample evidence exists for the mounting interest of institutional investors in the digital asset and digital securities market. A survey of 150 endowment funds in April 2019 indicated 94% were already allocating funds to digital asset investments, with 50% indicating they hope to increase those allocations as markets mature. A survey by Fidelity Digital Assets published June 2020, indicated 36% of 800 financial advisors, family offices, pensions, crypto hedge funds, endowments and foundations are currently invested with Digital Assets. However, more than 45% of respondents cited compliance and lacking infrastructure as obstacles for increased engagement.
About Rialto Markets
Rialto Markets democratizes and expands private markets for both issuers and investors. Rialto is a FINRA registered Broker-Dealer focused on the shifting needs of corporate capital formation of private placement securities in the primary market. Rialto also operates the Rialto Cross, a FINRA approved Alternative Trading System ("ATS") for transactions in equity and fixed income securities issued in digital form in the secondary market. Founded and operated by Wall Street veterans, Rialto applies a traditional financial services framework to the emergent digital securities market.
About Solidus Labs
Founded in New York in 2017 by Goldman Sachs FinTech veterans, Solidus Labs offers a crypto-native market surveillance platform built from the ground up for the unique compliance challenges of digital assets and crypto data. Harnessing advanced technologies like machine learning and SaaS principles, Solidus Labs' mission is to help crypto businesses grow faster - and safer - by reducing the operational costs of compliance and minimizing regulatory risk. The firm currently serves a global client base including exchanges, brokerages, regulators, self-regulatory organizations, and others.
For Inquiries:
Chen Arad
Chief Operating Officer
Solidus Labs
chen@soliduslabs.com
SOURCE: Solidus Labs
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