Eventus Systems, a supplier of multi-asset class trade security and market danger services, revealed today that Bitbuy, a Canadian-based cryptocurrency trading platform (just recently authorized as a managed market) will be utilizing the Eventus Validus platform to fulfill all of its trade security requirements.
With more than 375,000 users and $4.4 billion negotiated through its platform, Bitbuy is likewise the very first company that is both a signed up digital possession market and a limited dealership for Canadians to purchase cryptocurrency properties. Its compliance department is utilizing Validus to assist guarantee its market runs with stability, keeping an eye on customer trading habits and recognizing any possibly bothersome activity that needs more examination.
Early in 2015, Canadian regulators presented a brand-new regulative structure for cryptocurrency trading platforms that consisted of a requirement for platforms that run a market to surveil individuals within their markets. The usage of Validus greatly broadens Bitbuy’s abilities to satisfy its regulative requirements and offers the required facilities to accommodate future development. Bitbuy revealed its approval as a managed market in early December.
“When we reviewed the Eventus solution, combined with our new regulatory requirements, we knew we had found a long-term surveillance partner. Eventus provided superior advisory services throughout the onboarding process, given their industry-specific knowledge learned from working with leading global digital asset exchanges, and a team who have spent their entire careers in trade surveillance and financial markets. They thoroughly understood Bitbuy’s requirements and regional regulatory needs, making it incredibly simple for our team to go live. Our regulatory requirements are built into their tool, with the ability to add more capabilities and features as the landscape evolves, as well as scale to meet the needs of Bitbuy’s fast-growing marketplace.”
– Michael Arbus, Bitbuy CEO