Colt to provide IT solutions to cryptocurrency exchange service operator BITPoint Japan
To strengthen security, reduce costs and human resources needed for system management, and enhance efficiency
Tokyo, 15 November 2018 – Colt Technology Services today has announced that cryptocurrency exchange service operator BITPoint Japan Co., Ltd., selected Colt’s highly secure and reliable services to strengthen its security while reducing the costs and human resources necessary for system management, and enhancing efficiency.
The cryptocurrency BitCoin handled by BITPoint, is managed over a type of distributed network known as blockchain technology¹. The dispersal of data through the blockchain creates a difficult target for cyber-attacks, providing robust security for the cryptocurrency itself. However, on exchanges where cryptocurrencies are concentrated, security is largely dependent on the security awareness and methods employed by the exchange. With Japan’s Financial Services Agency stepping up monitoring and tightening regulations related to system failures and security measures, BITPoint had been searching for the optimal IT infrastructure to meet the high security standards of the Financial Trading Industry. Also, since cryptocurrency exchanges operate 24-hours a day year-round, the foundation of the exchange needs to be constantly monitored and maintained, highlighting the issue of reducing costs and human resources as well as enhancing efficiency.
For the development of its exchange, BITPoint adopted Colt’s highly secure and reliable IT infrastructure, which has broad experience providing operating platforms for the financial industry in Japan and around the world, thereby putting in place security measures that meet the standards of the financial trading industry. The deciding factor for BITPoint in selecting Colt was its extensive track record of providing service to the financial industry in Japan and overseas. Further, BITPoint was convinced that Colt could provide high reliability and security, owing to its broad range of security solutions such as intrusion prevention systems (IPS) and intrusion detection systems (IDS), and its corporate policy of focusing on using dedicated lines on a closed network to create a private communications environment. In addition, because the service foundation is assured by Colt’s solutions, BITPoint has maintained first-rate performance without major failures or other disruptions, resulting in a strong security assessment by all parties concerned.
To reduce the burden of system maintenance, BITPoint also decided to implement Colt’s Managed Device in conjunction with Managed Security Services, with support ranging from infrastructure design to infrastructure building and operations. By entrusting maintenance and management to Colt’s managed device services, BITPoint was able to greatly reduce the costs and human resources necessary for system maintenance.
BITPoint is willing to provide services with a priority on robust infrastructure and security measures. Building on its track record of services provided in Asia, the company plans to focus on international development of its cryptocurrency exchange, and is considering expanding to the U.S., Europe, Middle East, and Africa.
BITPoint’s COO and CTO Tsutomu Harada said: “We will utilise Colt’s highly secure IT infrastructure to continue to operate and expand our exchange for safe and secure cryptocurrency transactions. Going forward, we plan to continue to make use of Colt’s high-quality solutions.”
Colt’s Vice President of Capital Markets, Andrew Housden said: “Colt has been offering services to capital markets businesses for more than 20 years and has the experience and technology to provide optimal solutions for companies participating in the financial services industry. For BITPoint’s cryptocurrency exchange, we will continue to provide a best-in-class service through our high-security, highly reliable, ultra-low latency network infrastructure and will continue to contribute to the development of the cryptocurrency market. “
For details of this project, please see below.
An example of BITPoint Japan Co., Ltd.’s system implementation:
¹ Block chain technology is also called “distributed ledger technology” because it can share the same information in individual systems by sharing the databases.
BITPoint is a cryptocurrency exchange established in March 2016 as a subsidiary of Remixpoint, inc. Acting as a cryptocurrency exchange management company, BITPoint completed its registration as a licensed cryptocurrency exchange operator in September 2017 and, from the three viewpoints of “send,” “use,” and “invest,” the company is developing not only an investment platform, but also cryptocurrency transaction settlement and remittance services. Run by a team of professionals with experience in financial industries, such as banks and brokerage firms, BITPoint looks to create a safe and secure cryptocurrency exchange based on confidence and trust, while at the same time offering advanced original services such as Meta Trader 4 and telephone customer support. For more information, please visit https://www.bitpoint.co.jp/.
Colt aims to be the leader in enabling customers’ digital transformation through agile and on-demand, high bandwidth solutions. The Colt IQ Network connects 850+ data centres across Europe, Asia and North America’s largest business hubs, with over 27,000 on net buildings and growing.
Colt has built its reputation on putting customers first. Customers include data intensive organisations spanning over 207 cities in nearly 30 countries. Colt is a recognised innovator and pioneer in Software Defined Networks (SDN) and Network Function Virtualisation (NFV). Privately owned, Colt is one of the most financially sound companies in its industry and able to provide the best customer experience at a competitive price. For more information, please visit www.colt.net.
For more information, contact:
Nola Pocock – Director – Global Communications, PR & AR