Bitstamp Partners with Irisium to Fight Market Manipulation

[Leonardo]

Bitstamp, the largest European cryptocurrency exchange by trading volume, has teamed up with market monitoring and analytics software provider Irisium to upgrade its arsenal of technology solutions for spotting and preventing market manipulation and illicit activities.

In a press release on Tuesday, Bitstamp said it intended to implement Irisium's surveillance platform, which makes it possible to monitor market activity and identify any signs of suspicious behavior and manipulation.

The crypto exchange believes that the integration of the new platform will improve customer protection and market integrity on its own trading venue.

"We are cooperating closely with Irisium and will leverage their significant experience to provide a more robust and transparent trading venue for our customers," Bitstamp CEO and founder Nejc Kodric said in comments on the partnership.

Irisium develops solutions that enable users to detect and track illicit trading practices on financial markets. Its tools also allow monitoring market activity for compliance with European regulatory requirements.

Bitstamp already uses KYC/AML procedures, advanced security software, and protocols to solve customer protection issues, according to the press release.

In addition, the exchange has forged an alliance with Cinnober, which provides tech solutions to financial markets, including such long-established participants as the London Metal Exchange. Earlier this month, Bitstamp announced a decision to implement Cinnober's trading platform instead of its own.

These developments come as part of Bitstamp's efforts to guarantee a safe, compliant, and reliable marketplace for its customers and by doing so, make it more appropriate for traditional institutional and retail investors.

“Our goal is to enhance customer protection and market integrity at Bitstamp, which we believe are crucial pursuits as the crypto industry continues to grow and evolve,” the company said.

Source: https://cryptovest.com/news/bitstamp-partners-with-irisium-to-fight-market-manipulation/