Limassol, Cyprus--(Newsfile Corp. - July 26, 2023) - Praxis Tech, a leading payment orchestration platform headquartered in Limassol, Cyprus, and Modulus, a US-based developer of ultra-high-performance trading and surveillance technology, are thrilled to announce their strategic partnership. Now, all clients using the Modulus Exchange Solution will automatically have access to Praxis payment technologies. By combining Praxis' cutting-edge payment solutions with Modulus' powerful trading and surveillance technology, this collaboration is set to revolutionize the landscape of global equities, derivatives, and digital asset exchanges.
Praxis Tech and Modulus Strategic Partnership
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"This is something that clients have been increasingly clamoring for in recent years. As the crypto investor universe gets wider, and as Main Street buys in further, it is critical that exchanges offer a fiat onramp. Praxis gives operators that leg up to be able to onboard new cryptocurrency investors without the complex technical difficulties that are sometimes associated with the industry. That's a game changer for exchange operators, and we're excited to be able to offer that to all Modulus clients as part of our white label package," says Modulus CEO Richard Gardner.
"Since Praxis was founded in 2014, we have perfected our technology and developed a loyal and actively growing client base. And just as importantly, we have been developing a network of partners who share our vision of innovation, technology and commitment to excellence, and this is exactly what Modulus embodies. We are thrilled to deepen our partnership with Modulus whose robust solutions have played a pivotal role in powering some of the most sophisticated trading platforms in the market. We look forward to serving Modulus' clients and helping them power their payments," says Praxis Co-Founder and Director Amit Klatchko.
Praxis has earned a reputation as a trailblazer in the payments industry since its launch in 2014 with its flagship product - Cashier. In 2022, Praxis uplifted its brand from Praxis Cashier to Praxis Tech, to reflect its expanded offering of new products - Praxis Direct (API) and Hosted Payment Fields (HPF). In the past year, reducing decline ratios and decline recovery have been among the company's top priorities, with its new products, such as BDCC (Background Dynamic Currency Conversion), Smart Routing, Transaction Decline Recovery with Open Banking and Retry on Insufficient Amounts. Currently Praxis integrates with 540+ PSPs and 1000+ alternative payment solutions, supporting over 200 currencies (fiat and crypto).