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Bitpanda deploys Eventus’ Validus platform to meet trade surveillance needs

Eventus, a leading provider of comprehensive, at-scale trade surveillance and financial risk solutions, and Bitpanda, Europe’s leading cryptocurrency platform, announced today that Bitpanda will deploy Eventus’ Validus platform to meet its trade surveillance needs and legal obligations.

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Founded in Vienna in 2014, Bitpanda has offices and hubs across the region, including Vienna, Barcelona, Berlin, Krakow and Bucharest. Following a rigorous review of trade surveillance solution providers, Bitpanda selected Eventus to help the firm leverage automation to detect and prevent market abuse, manipulation and insider trading.

Manol Vanev, Compliance Officer at Bitpanda, said: “We evaluated every solution available on the market before narrowing down candidates. Eventus rose to the top based on a variety of factors, including its state-of-the-art solution, strong reputation and extensive experience with many of the world’s largest digital asset firms, broad track record in traditional finance with other asset classes, and expertise in markets and regulation. Also important to us is the solution’s ease of use and the robust and customizable procedure coverage offered by Validus.”

Philipp Bohrn, Bitpanda Vice President Public and Regulatory Affairs, said: “We have grown quickly, and we need a sophisticated, user-friendly platform that can handle our data and messaging volumes, whilst maximising our efficiencies and scale to meet any capacity needs we may have in the future. Bitpanda is very focused on holding ourselves to the highest compliance standards, and the selection of Eventus for this important function not only supports our regulatory needs today but positions us for sustainable growth and enhanced customer protection in the future.”

Eventus CEO Travis Schwab said: “Bitpanda understood the benefit of getting ahead of regulation and putting in place all the pieces to ensure a robust, scalable trade surveillance environment that can easily adapt to meet its needs as the company grows, adds new asset classes and confronts a rapidly changing regulatory landscape. We’re honored to partner with the firm as it continues its impressive growth and commitment to safeguarding its customers.”

In June, Acuiti and Eventus released a report on the European Union’s Markets in Crypto Assets Regulation (MiCA), The Impact of MiCA on Crypto Market Surveillance: Insights and Challenges, based on a survey and series of interviews at 68 firms engaged in crypto trade. The study found that MiCA, one of the first comprehensive regulatory frameworks for crypto trading to be developed in a major financial jurisdiction, is accelerating investment in surveillance systems for cryptocurrency trading, though just 9% of the firms in scope for MiCA were fully prepared and a quarter of firms had not yet begun preparations as of mid-year.

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