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Crypto Exchange Bitstamp to Integrate New Platform for Market Monitoring

European cryptocurrency exchange Bitstamp will be integrated with new platform to improve compliance and customer protection.

Bitstamp has formed a partnership with British market surveillance firm Irisium Ltd. in an effort to improve the safety and reliability of its marketplace. Irisium's platform to monitor market activity and attract more institutional investors.

Commenting on the collaboration, Alastair Goodwin, CEO of Irisium Ltd, said that the adoption of Irisium's platform will help "increase transparency, integrity and confidence in the cryptocurrency market," eventually improving market liquidity and adoption.

Founded in 2011, Bitstamp is purportedly the largest crypto exchange by trading volume in the E.U., supporting trading for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), U.S. dollars and euro.

NXMH, which is in turn a subsidiary of investment bank Barclays. The firm is also a subsidiary of Korea-based giant media NXC Corp., which bought at 65.19 percent stake in the South Korean crypto exchange Korbit last year.

In August, Bitstamp along with crypto exchanges Gemini, Bittrex, and BitFlyer USA, established a self-regulatory organization, dubbed the Virtual Commodity Association Working Group for digital commodities, such as cryptocurrencies. The organization aims to help large-scale investors get more comfortable with the crypto market and work on the formulating industry standards.

In May, the Chicago Mercantile Exchange (CME Group) in partnership with U.K.-based Crypto Facilities launched the CME CF Ether-Dollar Reference Rate and Real Time Index to provide users access to a real-time ETH price in U.S. dollars. Bitstamp and Kraken. Crypto exchanges.

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