UAE-Based Bybit Achieves ‘AA’ Rating in CCData’s Crypto Exchange Benchmark Report, Dominating Both Spot and Derivatives Categories
DUBAI: Gulf Tech News
Bybit, the world’s third most visited crypto exchange, has secured an ‘AA’ rating in the latest CCData Crypto Exchange Benchmark Report. Bybit achieved the top grades in both Spot and Derivatives trading — the only centralized exchange to receive ‘AA’ in both categories.
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.
The 2023 Exchange Benchmark not only reflects the industry’s improved best practices but also highlights the advanced oversight mechanisms implemented by global regulators. Bybit’s ‘AA’ ranking underscores its adherence to these rigorous standards, showcasing the platform’s dedication to providing a secure and trustworthy trading environment.
With average scores rising from 51.0 to 52.3, the report highlights overall industry improvements and Bybit’s emphasis on excelling within these benchmarks. Amongst the various participants, Bybit has distinguished itself by joining the ranks of seven centralized exchanges awarded the highest grade of ‘AA’. This classification acknowledges Bybit as a top-tier exchange, surpassing CCData’s threshold for acceptable risk.
The ‘AA’ rating is backed by thousands of research hours and leverages CCData’s leading data solutions. This comprehensive research ensures that Bybit’s esteemed clients and partners can engage with a platform that is not only top-tier by classification but also top-choice by performance.
“We are honored to receive an ‘AA’ rating in CCData’s authoritative Exchange Benchmark,” said Ben Zhou, co-founder and CEO. “This is a significant accolade that reinforces our commitment to maintaining the highest standards of security and regulatory compliance.”
