Bitstamp Exchange To Adopt Platform For Crypto Market Monitoring
The Bitstamp crypto exchange will improve user protection and market integrity with the help of a new technology, according to the blog.
The trading platform entered into a partnership with Irisium, the supplier of software for market monitoring and careful analysis. It is noted that the company provides its services to crypto exchanges, regulators, buy-side and sell-side companies.
In particular, the exchange will track suspicious activity among users as well as monitor cases of market manipulations. According to the team, the key objectives in the growing crypto industry include customer protection and maintaining the market integrity.
Nejc Kodrič, the head of Bitstamp, stated that the team wants to create a fair and orderly market, which would display the actual supply and demand. This becomes possible through effective supervision, he added, and the Irisium technology will help make Bitstamp a more reliable and transparent platform for crypto trading.
One of the Irisium’s investors is Cinnober, a provider of technological solutions for the financial industry. The crypto exchange started to cooperate with the company in November 2018. As a result, Bitstamp received a new trading system that will improve the platform’s efficiency during price fluctuations in the crypto market.
The trading platform Bitstamp was founded in 2011 and became the first licensed crypto exchange in Europe. As a licensed payment service, it guarantees the transparency of financial relations. Now the platform is ranked 24th in the CoinMarketCap rating with a daily trading volume exceeding $128 million.