To strengthen security, reduce costs and human resources needed for system management, and enhance efficiency
Colt Technology Services 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 technology. 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. “