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  • Bitbuy finishes audit of its reserves.
  • The audit was conducted by CipherBlade.

Canadian crypto exchange, Bitbuy, reported on Thursday that it has wound up a third-party audit of its reserves. The audit was conducted by US-based blockchain security firm CipherBlade and it also ensures a regular release of these audit reports.

Richard Sanders, co-founder, and CEO of CipherBlade said:  

“Bitbuy was extremely forthcoming in the information they provided, and this information was provided in a timely and complete matter. This commitment to transparency is something that should be both a consumer expectation and self-regulatory best practice. A new dawn of higher expectations and accountability is something that will be great for both the Canadian space and blockchain industry in general.”

The exchange is also launching two crypto-based services – an OTC desk and a new trading platform. The platform will offer additional trading features like crypto-to-crypto trading options without charging any fee until May 31.

Adam Goldman, president at Bitbuy, said  

“By building this product in house, we maintain complete control over every facet of the business, giving our customers confidence in the transparency of our operations. We are not only a cryptocurrency exchange with proprietary technology and full back-office services but also a technology company. We are excited to start the next chapter of Bitbuy with our ‘Pro Trade’ platform.”