Bitstamp to implement market monitoring platform Irisium on its exchange

The company aim to provide a “more robust and transparent trading venue” for customers

Major cryptocurrency exchange Bitstamp will be partnering with market monitoring software Irisium to integrate the company’s monitoring interface on its exchange.

Irisium is a market surveillance platform that employs 360 surveillance solutions to help companies gain business intelligence. According to its official website, the service lets businesses analyse disparate data across trade and order, social media, voice communications and behavioural data to “efficiently monitor their business and manage risk with confidence.”

Bitstamp will implement the Irisium software on its exchange to monitor its market activity, and aims to ‘bridge the gap between traditional finance and crypto through a mature approach to the cryptocurrency space,” according to a press release published on Irisium’s website on Tuesday.

“We are committed to crypto in the long-term,” said Bitstamp CEO and founder Nejc Kodrič in a statement. “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.”

According to Irisium CEO Alastair Goodwin, the partnership will help the company boost its customer protection and drive the exchange’s adoption.

“Bitstamp’s pro-active adoption of Irisium and close partnership with us demonstrates their desire to increase transparency, integrity and confidence in the cryptocurrency market.” he said. “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.”