Bybit, one of the largest and most visited cryptocurrency trading platforms in the world, has secured the top rating in the most recent analysis by the crypto sector research company CCData, becoming the only exchange of its kind to score the highest marks in both spot and derivative trading categories.
Specifically, the crypto exchange has received an ‘AA’ rating in CCData’s Crypto Exchange Benchmark Report, a critical study that analyzes the performance and risk management capacities of centralized and decentralized exchanges in the crypto industry, according to the press release shared with Finbold on November 3.
As it happens, the 2023 Report has recognized Bybit’s qualities amid the stable growth of its market share, taking into account the dynamic changes and enhanced standards that have yielded impressive results, proving its commitment to offering safe and reliable trading space.
Furthermore, the crypto exchange said that the report has brought to attention the overall industry advancements and Bybit’s mission to stand out within the relevant standards, becoming recognized as one of the seven other centralized exchanges with the ‘AA’ grade and average scores rising from 51.0 to 52.3.
Commenting on the recent development, the co-founder and CEO of the popular crypto exchange, Ben Zhou, stressed that:
“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.”
Indeed, the ‘AA’ rating, backed by thousands of hours of research relying on CCData’s data solutions, recognizes ByBit as a top-tier exchange and a top choice by performance, beating the cryptocurrency analytics company’s threshold for acceptable risk.
It is also worth noting that Bybit’s recent significant achievements include listing PayPal’s (NASDAQ: PYPL) stablecoin PYUSD on its trading platform and the launch of spot trading for its clients, as well as teaming up with Paradigm, the largest institutional liquidity network for crypto derivatives.
Earlier this year, Bybit also launched its Wealth Management product to address the needs of its clients with custom investment solutions and provide them with a secure environment and advanced strategies for long-term growth, as Finbold reported on August 8.