Amid all the chaos of the market collapse and hard fork, the digital currency world seems to make a comeback with a bang. The business-oriented minds still have a lot of aspirations from this industry.
Bitstamp Collaboration With Irisium
Recently, Europe-based cryptocurrency exchange Bitstamp made a pragmatic decision of collaborating with Irisium Ltd. which is a Britain-based firm. The firm is involved in the business of market surveillance. The much-anticipated partnership of the two firms would add-on to the security and reliability of the investors of the reputed exchange. Irisium with its efficient surveillance platform will help Bitstamp to keep a check on market activities and will also help to attract more potential investors for the exchange.
Alastair Goodwin, CEO of Irisium Ltd., while commenting about the collaboration, said that the adoption of Irisium’s platform would foster better transparency and integrity in the digital market. He further added that this attempt would increase the confidence of amateur investors in the cryptocurrency arena which will undoubtedly enhance market liquidity and adoption.
Europe’s Largest Crypto Exchange
Although relatively new in the industry, Bitstamp is supposedly E.U’s largest crypto exchange concerning trade volume. The popular exchange deals in trading of all the top slot cryptocurrencies including Bitcoin, Ripple, Litecoin, Ethereum, Bitcoin Cash. It also deals in top currencies like Euro and US Dollars.
Recently the exchange made headlines when NXMH-an investment firm of Belgium acquired it. NXMH is a subsidiary of investment bank Barclays and a Korea based media firm NXC Corp. NXC Corp. also owns a majority of 65.19 percent stake in the country’s second-largest crypto exchange, Korbit.
Virtual Commodity Association Working Group
Earlier in August, Bitstamp in a collective attempt with certain other crypto exchanges like Gemini, Bittrex and bitFlyer USA hit the market with Virtual Commodity Association Working Group. This self-regulatory association dealt in digital commodities and served to cater to the requirements of large-scale investors. The main aim of the firm was to come up with the best of standards and regulations for the crypto market.
May 2018, saw another experimental partnership between Chicago Mercantile Exchange and U.K based Crypto Facilities. The partnership hit the market with CME CF Ether-Dollar Reference Rate and Real-Time Index which allowed user access to a real-time ETH price in US Dollars. On the basis of transactions and order book activity from Bitstamp and Kraken, Crypto Facilities will decide the rates of both the currencies.