Crypto Exchange Bitstamp Rolls Out Tech to Spot Market Manipulation
Bitstamp, one of the oldest cryptocurrency exchanges, is upgrading its tech arsenal in a bid to attract institutional investors.
The exchange announced Tuesday that it’s implementing the Irisium Surveillance platform to monitor for suspicious activity and market manipulation. Following Bitstamp’s recent partnership with Cinnober, a tech provider for mainstream financial markets and a partial owner of Irisium, the crypto exchange will now adopt a tool that entities such as Asia Pacific Exchange Pte Ltd (APEX) use to detect illicit behavior.
“We are committed to crypto in the long term,” Bitstamp’s CEO and founder Nejc Kodric said in a statement. “Our desire is to guarantee a fair and orderly market which reflects genuine supply and demand. Exploring new frontiers in preventing market manipulation is essential for the industry to mature.”