In its bid to ensure that the crypto market is safe and free from market manipulation, Bitstamp—a popular crypto exchange has formed a partnership with Irisium a subsidiary of Swedish stock-exchange technology developer Cinnober. The purpose of this partnership is to help launch a real-time market-monitoring platform on the exchange.
Bitstamp Set to Fight Market Irregularities
According to Bitstamp’s CEO and co-founder Nejc Kodrič. The new market-monitoring platform will help fight and prevent against irregular activities in the market. It will help with making sure that accurate demand and supply is reflected. He also stressed the importance of adequate market monitoring in a statement which reads:
“We are committed to crypto in the long term. Our desire is to provide a fair and orderly market which reflects accurate supply and demand. In order for the industry to mature, effective market monitoring is crucial. We are cooperating closely with Irisium and will leverage their significant experience to provide a more robust and transparent trading venue for our customers.”
The CEO of Irisium, Alastair Goodwin, has also issued a statement regarding this latest development. He stated that:
“Bitstamp’s proactive adoption of Irisium and close partnership with us demonstrates their desire to increase transparency, integrity and confidence in the cryptocurrency market. Integrating Irisium’s innovative technology into Bitstamp’s platform will support compliant and efficient operations. Enhanced customer protection and market integrity will help drive adoption and market liquidity.”
Nasdaq is Set to Buy Irisium
According to a recent report, Nasdaq is also making moves targeted at making its Smarts surveillance platform relevant in the crypto market. Nasdaq which has shown great interest in the digital asset market recently has also announced plans to buy Irisium’s parent company, Cinnober, for a reported sum of $190 million. In the event that Nasdaq is able to close the deal, the stock exchange would have successfully placed itself as a leader in the digital asset smart surveillance industry.