First Canadian crypto trading platform regulated as marketplace, Bitbuy, selects Eventus for trade surveillance

Eventus Systems, Inc., a global provider of multi-asset class trade surveillance and market risk solutions, today revealed that Bitbuy Technologies, Inc. is using its Validus platform.

Bitbuy is the Canada’s first cryptocurrency trading platform to be regulated as a marketplace. It is also Eventus’s first Canadian client, representing the steadily growing global reach of the trade surveillance provider.

Registered digital asset marketplace, as well as a restricted dealer for Canadians to invest in cryptocurrency assets, Bitbuy sees over 375,000 users and $4.4 billion transacted through its platform. Its compliance department uses Validus to help monitor client trading behavior and identify any potentially problematic activity that requires further investigation.

Bitbuy selects Eventus

Earlier last year, Canadian regulators introduced a new regulatory framework that requires cryptocurrency trading platforms that run a marketplace to surveil participants within their markets. Using Validus expands Bitbuy’s capabilities to fulfill these requirements. It also provides the necessary infrastructure to accommodate future growth.

Michael Arbus, Bitbuy CEO, said:

When we reviewed the Eventus solution, combined with our new regulatory requirements, we knew we had found a long-term surveillance partner.  Eventus provided superior advisory services throughout the onboarding process, given their industry-specific knowledge learned from working with leading global digital asset exchanges, and a team who have spent their entire careers in trade surveillance and financial markets. They thoroughly understood Bitbuy’s requirements and regional regulatory needs, making it incredibly simple for our team to go live. Our regulatory requirements are built into their tool, with the ability to add more capabilities and features as the landscape evolves, as well as scale to meet the needs of Bitbuy’s fast-growing marketplace.

Eventus CEO Travis Schwab said:

Travis Schwab, Eventus

Travis Schwab

It’s a pleasure to serve Bitbuy as our first Canadian client and the latest digital asset marketplace to turn to us for meeting critical trade surveillance needs. As more investors in Canada and throughout the world embrace this asset class, we’re truly honored to play a role in helping cryptocurrency exchanges and a variety of other market participants entering the crypto space meet new requirements and standards for safety and transparency.

Last year, Eventus Systems signed its first Australian client – Morrison Securities, an Australian stock brokerage firm.

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