Eventus Methods, a supplier of multi-asset class commerce surveillance and market danger options, introduced at this time that Bitbuy, a Canadian-based cryptocurrency buying and selling platform (just lately accredited as a regulated market) can be utilizing the Eventus Validus platform to fulfill all of its commerce surveillance wants.
With greater than 375,000 customers and $4.4 billion transacted by way of its platform, Bitbuy can also be the primary group that’s each a registered digital asset market and a restricted vendor for Canadians to spend money on cryptocurrency belongings. Its compliance division is utilizing Validus to assist guarantee its market operates with integrity, monitoring shopper buying and selling conduct and figuring out any probably problematic exercise that requires additional investigation.
Early final yr, Canadian regulators launched a brand new regulatory framework for cryptocurrency buying and selling platforms that included a requirement for platforms that run a market to surveil members inside their markets. Using Validus vastly expands Bitbuy’s capabilities to satisfy its regulatory necessities and gives the required infrastructure to accommodate future development. Bitbuy introduced its approval as a regulated market in early December.
“Once we reviewed the Eventus resolution, mixed with our new regulatory necessities, we knew we had discovered a long-term surveillance accomplice. Eventus supplied superior advisory companies all through the onboarding course of, given their industry-specific information realized from working with main world digital asset exchanges, and a group who’ve spent their whole careers in commerce surveillance and monetary markets. They completely understood Bitbuy’s necessities and regional regulatory wants, making it extremely easy for our group to go reside. Our regulatory necessities are constructed into their instrument, with the flexibility so as to add extra capabilities and options because the panorama evolves, in addition to scale to fulfill the wants of Bitbuy’s fast-growing market.”
– Michael Arbus, Bitbuy CEO