MoonXBT Ready to Start Fintech Environment Testing in Cambodia
Early this month, MoonXBT, the leading crypto social trading exchange, signed an MOU with the Securities and Exchange Regulator of Cambodia (SERC) to promote the development and expedite the adoption of digital assets in Cambodia. Under the cooperation framework, MoonXBT is to provide strategic consultancy, human resource training and technical support etc.
Now, it is preparing to take on its first mission – to participate in Cambodia’s security-related financial and technological environment testing. The testing aims to assess the creative fintech product within a preset time range and a controllable scale. Platforms participating in the testing are regulated and supervised by SERC by default.
MoonXBT Meets Strict Security Requirements To be Qualified for the Testing
More importantly, Cambodia's financial and technological environment testing has set highly strict requirements for the security of the participating platforms since the testing is directly backed by the government and regulators.
In order to be qualified to participate in the testing, platforms are evaluated in the aspect of customer privacy, asset custody and storage, anti-money laundering and anti-terrorism ability, risk audit ability, KYC policy as well as the platform’s values and integrity. It’s safe to say, whichever platform passed the above evaluation is equipped with a level of security that’s above the industry standard. And it is no doubt that the platform is a reliable one capable of protecting the asset and information of the users with 100% certainty.
MoonXBT is one of the platforms which has met the standards of the security evaluations by SERC and has become a qualified applicant for the following testing. This has to do with the fact that MoonXBT has always put the interest of the users and the security of their assets as priorities and has consistently invested many efforts to upgrade the security of the platform from multiple dimensions.
MoonXBT Has Worked with the Best Crypto Security Firms for Long-term Security
Even though MoonXBT has been founded less than two years, it has already worked with some of the best security firms in the industry to upgrade its security in multiple dimensions.
For asset storage and custodian, MoonXBT has collaborated with Fireblocks using its battle-tested secure and direct custody technology to allow users to maintain control of their private keys. Fireblocks provides an enterprise-grade and secure infrastructure for moving, storing, and issuing digital assets. Its technology has been adopted by some of the biggest crypto exchanges and operators in the world such as BlockFi, Coinbase, and Binance. Fireblocks partners with more than 1,400 clients ranging from traditional financial institutions to crypto exchanges. It has secured the transfer of over $3 trillion in digital assets on the platform.
MoonXBT has also worked with the top security company, Certik, to conduct thorough code auditing of the entire platform. Certik has carried out a series of audit activities including auto code scanning and manual code review, application vulnerability scanning, penetration test, etc on MoonXBT to make MoonXBT unattackable and immune to hacks that can cause potential asset losses.
It is with the above efforts that MoonXBT’s security has passed the scrutiny of SERC and earned the qualification to participate in the financial and technological environment testing. With the assurance of security, not only can MoonXBT conduct innovative digital asset experiments in Cambodia, but also can it protect in a better way the users’ assets on the platform at large.