BingX Boosts Payment Security and User Trust

BingX has become the first Web3 platform to certify its fiat business under Payment Card Industry Data Security Standard (PCI DSS) v4.0.1, a new standard of safety in Web3.

The PCI DSS v4.0.1 framework is maintained by the PCI Security Standards Council and the framework establishes stringent procedures and practices in storage, transmission and processing of sensitive cardholder information.

Strengthening Payment Safety Standards

PCI Security Standards Council maintains the PCI DSS v4.0.1 framework, which sets strict standards on protecting sensitive cardholder information during storage, transmission and processing.

Certification of BingX means that the company has adhered to six key areas of safety, namely network security, vulnerability management, data protection, access control, monitoring, and general security strategy.

This achievement will make the deposits of fiat and card payments safer and guarantee users with uninterrupted and safe payment channels.

Also, the success points to the active nature of BingX in incorporating standards recognised across the world into its cryptocurrency and Web3 practices.

Expanding a Comprehensive Framework

The new certification is an addition to the already established defense systems of BingX that contain sophisticated anti-money laundering systems that do not allow the circulation of illegal money.

Transparency of assets is provided by regular Proof of Reserves reports, and protection against suspicious activity is reinforced by real-time monitoring and evaluation of abnormal withdrawals.

The crypto exchange also has a self-funded Shield Fund of $150 million that is meant to cover unexpected events to protect user interests.

Moreover, the cooperation with third-party security specialists and regular systems audits provide further protection of the platform against cyber attacks.

Integrating Advanced Technology for User Protection

The crypto exchange uses high-end encryption and multi-factor authentication software to protect accounts and transactions within the platform.

The digital asset industry is countering the changing cyber risks by regularly updating the system and enhancements.

BingX has successfully integrated the use of conventional financial protections along with blockchain-based innovation by aligning its operations to PCI DSS v4.0.1.

Such integration means that with the convergence of digital asset and fiat payment systems, the users will enjoy the best safety compliance levels.

Positioning for Growth in the Web3 Space

BingX was established in 2018, and with its services available to more than 20 million users globally, it supports spot trading, derivatives, and copy trading functionalities.

Emphasis on safeguard, transparency, and user-first operations has made the platform a reputable player in the dynamically changing Web3 world.

BingX is also enthusiastic about the industry standards, and their desire to remain at the top and exceed them is included in their strategy of long-term development and dominance in the market.

Acquiring the PCI DSS v4.0.1 certification will raise the company's competitive edge and the degree of trust between the institutional and retail participants.