Cyprus-based paytech Praxis Tech, a payment orchestration platform operator, and Modulus, a US-based high-performance trading and surveillance technology developer, have announced a strategic partnership. Clients using Modulus Exchange Solution will gain automatic access to Praxis payment technologies through this collaboration. The new strategic partners aim to revolutionize global equities, derivatives, and digital asset exchanges.
Modulus CEO Richard Gardner highlights the increasing demand for a fiat onramp as the crypto investor base expands. Praxis addresses this need by offering a seamless way to onboard new cryptocurrency investors without complex technical difficulties, providing exchange operators with a game-changing advantage.
Praxis Co-Founder and CEO Amit Klatchko expresses enthusiasm for the partnership, praising Modulus as a company that shares its vision of innovation, technology, and commitment to excellence. Praxis, known for its flagship product Cashier, has expanded its offerings with new products like Praxis Direct (API) and Hosted Payment Fields (HPF), focusing on reducing decline ratios and decline recovery in the past year.
Praxis boasts a strong reputation in the payments industry, integrating with over 540 payment service providers and supporting over 200 currencies (fiat and crypto). On the other hand, Modulus, established in 1997, has a proven track record of developing ultra-high-performance trading solutions, setting new standards in speed, scalability, and accuracy.
This strategic alliance brings together two industry leaders, each contributing unique expertise to create a comprehensive ecosystem for businesses in the global financial markets. The integration of Praxis‘ payment orchestration platform with Modulus’ advanced trading technology promises to offer market participants unparalleled efficiency and convenience. Overall, the partnership holds the potential to reshape the landscape of financial transactions in equities, derivatives, and digital assets.
