Archax Selects Scila Surveillance and Scila Anti-Money Laundering (AML) for Monitoring of Securities and Cryptocurrencies

London, Stockholm – 25 November 2021

Archax, the first and only UK Financial Conduct Authority (FCA) regulated digital securities exchange, broker and custodian, has selected Scila Surveillance and Scila AML for monitoring of its markets, provided by the Stockholm-based leading independent surveillance, risk & anti-money laundering technology provider Scila AB. Archax was also the first firm to be listed on the FCA’s Cryptoasset Register and will use Scila for its cryptocurrency market.

Scila provides Archax with a powerful and flexible real-time market surveillance and anti-money laundering tool which is deployed at customer sites in more than 20 countries, including exchanges, regulators and market participants. Scila has a strong focus on digital assets and cryptocurrencies and currently provides technology to some of the largest cryptocurrency exchanges and traders globally.

The Scila solution includes a broad selection of alert rules and reports, a powerful search and replay functionality as well as trading analytics tools. The solution utilises advanced machine learning capabilities, based on both unsupervised and supervised learning.

“Digital assets and cryptocurrencies have become an integrated part of the financial system and capital markets. Whilst on a global level, cryptocurrencies and digital assets are largely unregulated, we think it is important that these asset classes become regulated in a similar way as traditional securities. We are excited to work with Archax on this project”, says Lars-Ivar Sellberg, Executive Chairman and Co-Founder at Scila.

“Regulatory convergence between the digital and the traditional worlds has been uncompromising in its progression and Archax believes that this will be a trend that continues to manifest. We see Scila as being perfectly aligned with Archax’s vision for the future of compliance in the digital asset industry. Through this partnership, Archax will not only remain compliant with various financial regulators with which it interacts but will also lead the ecosystem with new and progressive regulatory controls for both transaction reporting and market surveillance. By doing this, Archax will facilitate its customers a level of oversight and security in digital asset interaction that has previously been unseen”, adds Graham Rodford, CEO and Co-Founder at Archax.

About Scila

Scila AB
Lars Gräns Rodhe
Head of Sales
Email: lars.grans@scila.se

Scila provides advanced solutions for trade surveillance, anti-money laundering and risk management. The company Scila was founded early 2008. All of the founders have a background either from surveillance departments or working with high-throughput transactional technology within the financial industry. Throughout the rapid growth of the Scila company a strong focus has been maintained on the recruitment of top-talent.

This solid base of superior domain and technology knowledge has been combined with a strategy of independence from any market participant and no reliance on external capital. This very deliberate strategy gave Scila both the focus and freedom to develop innovative products that deliver true value to the customer.

For additional information about Scila AB, please visit www.scila.se

About Archax

Archax Ltd
Simon Barnby
CMO
Email: Simon@archax.com

Archax is a global, regulated, digital asset exchange, brokerage and custodian based in London. Founded by experts from the financial markets world and backed by an accomplished advisory board, Archax offers a credible bridge between the blockchain-centric crypto community and the traditional investment space.

Archax is the first ever firm to receive FCA regulation as a digital securities exchange, custodian and brokerage. It was also the first firm to be listed on the FCA’s Cryptoasset Register as a VASP (Virtual Asset Service Provider).

Archax has been designed specifically for institutional investors to trade in all types of digital assets, from cryptocurrencies to digital securities. It is built using existing, proven, resilient, scalable, high-performance exchange infrastructure, hosted in top-tier datacentre space, and integrated into existing institutional trading workflow.

For more information, please visit www.archax.com