Austria-based fintech Bitpanda has announced its plans to deploy Eventus ’ Validus platform, with the company aiming to meet its trade surveillance needs and legal requirements. The move comes after Bitpanda reviewed its trade surveillance solution providers, with the company then selecting Eventus to support automating the detection and prevention of market abuse, manipulation, and insider trading.

In addition to this announcement, Bitpanda recently partnered with Societe Generale-FORGE to improve the accessibility of and usage of the latter’s MiCA-compliant stablecoin, EUR CoinVertible. The collaboration focused on encouraging wider adoption of digital assets by delivering stablecoins via a regulated platform. Trade surveillance requirements and legal demands When commenting on the announcement, representatives from Bitpanda underlined that, after evaluating every solution on the market, their company narrowed down its candidates, with Eventus coming at the top due to a variety of factors, including solutions, reputation, and experience with several of the world’s digital asset firms, track record in traditional financial with other asset classes, and expertise in markets and regulation.

In addition, Bitpanda chose the solution based on its ease of use and the customisable process provided by Validus. Furthermore, Bitpanda mentioned that considering that the company plans to further expand its operations, it needed a user-friendly platform that can manage its data and messaging volumes, whilst maximising its efficiencies and scale to meet upcoming capacity needs. Back in June 2024, Acuiti launched a report showing that investment in cryptocurrency trading surveillance systems could expand under the European Union’s MiCA.

Commissioned by Eventus and based on a survey and interviews with senior executives from 68 firms participating in crypto trading, the research indicates a developing industry-wide trend towards creating market surveillance systems. Additionally, Acuiti’s study revealed that only 9% of the companies subject to MiCA were fully prepared. On the other hand, 25% had not even started any preparations.

When it comes to market surveillance capabilities, the crypto market was advancing, with 57% of firms not covered by MiCA having the systems in place. .