ARAX is advancing its strategy to invest in world-leading decentralized Infrastructure software and tech, acquiring established, mission-critical platforms.
Arax Holdings Corp (OTCBB:ARAT)
USA, May 11, 2023 - With this acquisition, ARAX is advancing its strategy to invest in world-leading decentralized Infrastructure software and technology, acquiring established, mission-critical platforms.
Cilandro SA is registered with So-Fit, a Self-Regulated Swiss Body which supervises transacting processes for combating money laundering and any form of terrorist funding. Through its Registration at So-Fit, Cilandro can act as a financial intermediary and execute transactions on behalf of third parties, including exchanging digital assets with other digital assets. Cilandro will be one of the licensing bodies of Ping Exchange, which will release its alpha version digital asset trading platform in the coming weeks.
"The acquisition of Cilandro SA perfectly aligns with our strategic vision of investing in world-leading decentralized Infrastructure software and technology," stated Michael Loubser, CEO of ARAX Holdings Corp. He further added, "The acquired expertise of Lars Schlichting in regulatory compliance, residing in Cilandro and its trusted position as a financial intermediary makes it an ideal addition to our portfolio. We are excited about the potential synergies this acquisition brings and the value it will deliver to our clients and stakeholders."
In today's fast-paced digital economy, regulatory compliance requirements undergo continuous changes driven by the dynamic nature of the digital landscape. This evolution is one of the key drivers of ARAX’s investment called RegTech in the regulatory technology industry, which aims to streamline compliance processes and make it available to third parties as well as deploy it within ARAX’s use case platforms.
As technology-enabled innovation continues to advance, there is a growing need for effective management platforms that can navigate the complex world of regulation, compliance, risk management, reporting, and supervision. ARAX recognizes this need and is investing in a comprehensive framework that spans multiple dimensions.
The framework begins with a digital identity attribute management platform and encompasses general regulations and technology. ARAX addresses various regulations, not limited to financial, but also data management platforms. This includes the implementation of a data settlement system for self-regulation and third-party integrations. To support these initiatives, ARAX leverages technologies such as artificial intelligence, DLT, blockchain, smart contracts, including programmable regulation, and an API connector platform. These technologies facilitate connections with both blockchain-based and centralized cloud and financial institutional platforms, forming the core of the ARAX RegTech Ecosystem transaction facilitation.
Central to this framework is the role of data. By enabling data ecosystems and promoting data sharing through the CorePass gateway, CorePass is the world’s first real decentralized compliant blockchain-based digital identity with verifiable KYC, AML, etc, where all participants and users in the market can unlock additional value as well as staying in control of their own data specifically in adding digital attributes to the ARAX secure digital attribute management platform.
The framework is integratable with automation and machine-readable regulations, which will empower regulators and compliance officers to extract data directly from the banks' systems and combine it with information obtained from customers or external sources, an ideal solution for stablecoin or tokens platforms assisting projects to remain compliant within a regulatory environment, a world first blockchain-based software solution in the stablecoin industry.
Such integration will give rise to a multitude of applications for regulated entities, covering compliance, monitoring, risk management, reporting, and operations. Likewise, authorities can leverage RegTech solutions to establish policies, carry out authorization, supervision, as well as ongoing monitoring and control purposes.
The adoption of this multidimensional framework offers various benefits to stakeholders. These include higher efficiency, effectiveness, accuracy, and transparency, as well as reduced compliance costs.
In summary, ARAX is actively working towards streamlining regulatory compliance in the digital economy. By integrating advanced technologies, data-driven approaches, and a comprehensive ecosystem, ARAX aims to enhance efficiency, transparency, and effectiveness while managing the associated risks.
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Certain statements contained in this press release may be construed as “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “Act”). All statements that are not historical facts are “forward-looking statements.” The words “estimate,” “project,” “intends,” “expects,” “anticipates,” “believes” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe harbor” provisions of the Act. These statements are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. Investors should consider this cautionary statement and furthermore, no assurance can be made that the transaction described in this press release will be consummated. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.