Bybit, world’s third most visited crypto exchange, shares details of its massive milestone accomplished
Bybit earned top marks in both the Spot and Derivatives segments, becoming the only centralized exchange in Web3 to receive “AA” in both categories. This status is among the most prestigious for high-performance centralized exchanges.
Bybit crypto exchange secures AA status in CCData Crypto Exchange Benchmark Report 2023
Bybit, a Tier-1 platform for spot and derivatives crypto trading, announces that it has achieved an “AA” rating in the latest CCData Crypto Exchange Benchmark Report. The platform is mentioned in both spot and derivatives exchange classifications.
CCData’s comprehensive Exchange Benchmark serves as a critical tool for assessing the performance and risk management capabilities of centralized and decentralized exchanges. Bybit’s achievement comes after consistently growing its market share, reflecting the dynamic changes and heightened standards that have led to its success.
In general, this ranking reflects the strictest requirements regarding user experience, security, speed, feature-rich tooling and trading performance. Also, “AA” status is a symbol of regulatory compliance with the legislation of the most popular crypto jurisdictions.
Ben Zhou, cofounder and CEO of Bybit, highlights the importance of the milestone for the marketing and technical strategies of his platform:
We are honored to receive an ‘AA’ rating in CCData’s authoritative Exchange Benchmark. This is a significant accolade that reinforces our commitment to maintaining the highest standards of security and regulatory compliance.
As covered by U.Today previously, in July 2023, Bybit received the status of “Best cryptocurrency exchange” from the Traders Union community.
Only seven CEXes managed to get “AA” label
Also, the authors of the research indicated that the average score of participants increased from 51.0 to 52.3, which reflects the growing industrial standards for services.
At the same time, only seven centralized platforms – including Bybit – received the “AA” mark from the authors of the 2023 report.
This classification acknowledges Bybit as a top-tier exchange for newbies and professionals, surpassing CCData’s threshold for acceptable risk.