European cryptocurrency platform Bitpanda has selected the Validus platform from Eventus to enhance its trade surveillance capabilities and ensure compliance with regulatory standards. This strategic move aims to bolster Bitpanda’s defences against market abuse, manipulation, and insider trading through advanced automation.
Founded in 2014 and headquartered in Vienna, Bitpanda operates across multiple European locations, including Barcelona, Berlin, Krakow, and Bucharest. The company chose Eventus after a thorough evaluation of trade surveillance providers, seeking a solution that could meet the demands of the rapidly evolving regulatory environment for digital assets.
“Our selection process was thorough and took considerable time, as we conducted an extensive market survey, based on several key criteria,” Philipp Bohrn, Bitpanda’s Vice President Public and Regulatory Affairs, tells TradingTech Insight. “First, we evaluated the strength of each provider’s crypto market abuse detection capabilities and the flexibility of their systems. We also looked at the quality and reputation of the solutions, taking into account feedback from existing users. Another important factor was the level of expertise and competence of the teams behind each platform, as well as how we felt during our interactions with them. Additionally, we assessed the coverage of other asset classes such as equities to ensure high standards across the board. What stood out to us about Eventus was their deep understanding of the industry—they’re not newcomers, and their experience is clear. Ultimately, we were looking for a long-term partner we could trust, and Eventus aligned well with that vision.”
The partnership comes in the context of increasing regulatory scrutiny in the European Union. In June, Eventus and research firm Acuiti published a report on the EU’s Markets in Crypto Assets Regulation (MiCA), highlighting a significant gap in readiness among crypto firms. While MiCA is set to establish one of the world’s first comprehensive regulatory frameworks for crypto trading, the study found that only 9% of affected firms were fully prepared by mid-year, with 25% yet to start their compliance efforts.
“Working with companies like Bitpanda, which are taking a proactive and focused approach to regulatory compliance, is invaluable for us,” says Travis Schwab, CEO of Eventus. “We began supporting crypto back in 2017–18, when the regulatory landscape was much less defined, but we had a sense of the direction it was headed. As a result, we’ve built our platform to accommodate regulations like MiCA—a framework that Bitpanda is clearly committed to, and which is driving a significant amount of interest in our solutions.
“MiCA represents where the market is moving, and we see it as a potential blueprint for other jurisdictions. We expect this trend to continue; even with a new US administration perceived to be crypto-friendly, it doesn’t mean there won’t be regulation. MiCA and the prospect of increased regulation in other jurisdictions are generating a lot of inbound interest in our solutions, not only in MiCA-regulated regions but globally.”
With the adoption of Validus, Bitpanda aims to stay ahead of these regulatory requirements and strengthen its market position by proactively managing financial risk and regulatory obligations. “At the core, what we all need is a market that people can trust, with participants who take their responsibilities seriously,” says Bohrn. “Supporting partners like Eventus play a crucial role in providing the technology that elevates the professionalism of this space. Ultimately, this will attract more investors and contribute to a healthier market overall.”
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