Friday, 13 October 2023 09:15 AM
Partnerships
This press release corrects and replaces one issued previously correcting various facts about the tokens and NFTs used in ArenaX's game AI Arena.
ArenaX Labs has chosen Argus' employee trade compliance platform, a first-of-its-kind monitoring solution for projects and funds, as the system to manage and monitor employee trading of tokens and NFTs, while complying with evolving regulatory and industry best practices.
TORONTO, ON / ACCESSWIRE / October 13, 2023 / ArenaX Labs Inc. (ArenaX), an AI tech company focused on educating people about artificial intelligence (AI) through the power of play, announced today that it has partnered with Argus, Inc. to manage employee, contractor and similar personnel trade compliance for the token and NFTs utilized by its game AI Arena. Through this partnership, ArenaX will ensure that its personnel's trading of relevant digital assets is both seamless and consistent with best practices. The partnership demonstrates both firms' belief that personnel should be able to monetize token-and NFT-based compensation in a safe, compliant way.
The Argus platform, an automated and integrated employee trade monitoring system designed for digital assets, is currently used to monitor hundreds of thousands of transactions in on- and off-chain activity. ArenaX Labs will leverage Argus' solution to identify unusual or suspicious personnel trading activity, as well as coordinate the appropriate risk response.
"Argus' solution is the right fit for our use case," said Wei Xie, Co-Founder and COO of ArenaX Labs. "We are focused on making sure our personnel have the freedom to transact in the token utilized by AI Arena and our NFTs in accordance with our internal policies, which are modeled on industry best practices. This ensures there is no unauthorized activity outside of approved or pre-arranged trading windows. Given Argus' unique account coverage across both wallets and exchanges, as well as its ability to support both fungible crypto tokens and NFTs, Argus will help us protect the integrity of the tokens and NFTs utilized by AI Arena while meeting our players' expectations and industry best practices."
"We are grateful to support ArenaX Labs' vision and help ensure a safe and compliant cryptocurrency market," added Owen Rapaport, Argus' Co-Founder and CEO. "Bringing a new standard of compliance to crypto-native projects and companies is our goal. We're proud to work together with ArenaX Labs to meet both personnel and compliance needs."
Backed by leading venture firms like Paradigm and Framework, ArenaX Labs is building a propriety AI infrastructure layer that powers games like AI Arena, a first-of-its kind game that uses collaboration between humans and AI as a core mechanic.
About ArenaX Labs
ArenaX Labs is a tech company dedicated to demystifying AI through the universal language of play with exceptional entertainment experiences designed to educate, innovate, and redefine what's possible with AI. ArenaX Labs' Proprietary AI infrastructure layer is capable of powering a broad spectrum of AI based games, including its flagsip title: AI Arena, a fighting game where the human trains AI characters to fight in a thrilling blend of tech, competition and learning. Learn more at https://aiarena.io/.
About Argus
Argus is the first employee trade compliance solution for digital assets. With a customer base comprising the largest funds, market makers, exchanges, and projects globally, Argus' software brings robust controls to this world of emerging risks. As regulators increase their scrutiny of crypto, Argus is the essential way to ensure appropriate measures are in place to protect both the firm and its employees. Argus' US federal public sector work further informs its cutting-edge approach to compliance. You can find out more about the solution at www.tryargus.com.
Please contact [email protected] for further questions
SOURCE: Argus, Inc.