As cryptocurrency exchanges are focused on curbing irregular activities, New York-based Gemini has tapped Eventus’ Validus platform to benefit from its trade surveillance platform.
Announced today, the crypto exchange and custody platform have integrated the cloud-based version of Validus on a T+1 basis for market surveillance. This, according to the press release, will cover a wide range of potential market manipulation behavior.
The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation
“The digital asset space is a constantly changing environment, and working with a solution that is tailored for our market needs, including built-in flexibility as the landscape evolves, is critical,” Noah Perlman, Gemini’s chief operating officer, said in a statement.
“Eventus has a great track record, and its solution combines strong machine-learning and automation capabilities alongside a high-touch support model.”
Gemini has become the sixth major digital asset exchange to use Eventus’ trade surveillance technology.
“We are thrilled to provide our trade surveillance platform for one of the most established cryptocurrency exchanges on the market,” Eventus CEO Travis Schwab added. “In the past two years, we have significantly enhanced our capabilities in the digital asset place as more exchanges and market participants turn to us for our expertise in the area.
“As digital assets grow in popularity, it’s more important than ever that marketplaces like Gemini establish comprehensive trade surveillance programs and procedures to ensure they remain constantly vigilant to address any potential threats of market abuse.”
Making a Mark on the Global Map
Gemini is backed by the Winklevoss twins, and it has made its name for offering crypto services to institutions.
Meanwhile, Gemini has ambitious plans for global expansion of its cryptocurrency exchange. Apart from the United States, the crypto company also has operations in Canada, South Korea, Hong Kong, Singapore, Australia, and the United Kingdom.