#USA #PCI DSS #Web3 #BingX #Panama City

BingX Achieves PCI DSS Certification: Setting New Standards in Data Security

BingX, a prominent player in the cryptocurrency exchange market and a leader in the Web3 AI domain, has recently announced a remarkable achievement: it has obtained the Payment Card Industry Data Security Standard (PCI DSS) v4.0.1 certification. This substantial milestone underscores BingX's dedication to ensuring data privacy and security, making it one of the first cryptocurrency exchanges globally to secure this powerful recognition.

What is PCI DSS Certification?

The PCI DSS, maintained by the PCI Security Standards Council — which includes major credit card companies like Visa, Mastercard, American Express, Discover, and JCB — is designed to establish rigorous criteria for safeguarding sensitive payment data. Compliance with this standard is essential for any entity that handles credit and debit card transactions.

The certification evaluates compliance across six key areas: network security, vulnerability management, data protection, access control, monitoring, and information security strategy. By achieving this certification, BingX joins an elite group of entities that prioritize the security of their users, especially concerning fiat deposits and card payments.

Implications for Users

For its users, this accomplishment means a significantly enhanced security environment for managing fiat deposits and transactions. Daniel Lai, Chief Business Officer at BingX, emphasized, "Security has always been at the core of BingX's operations. Obtaining PCI DSS v4.0.1 certification is more than just a milestone; it reflects our commitment to providing a secure and reliable service. Every transaction is handled according to the highest global security standards."

BingX's Comprehensive Security Approach

This certification builds upon BingX's already robust security framework. The platform has established several measures to ensure user protection, which include:

• - AML Systems: Industry-leading anti-money laundering systems to block illicit funds.
• - Proof of Reserves: Regular checks that maintain full asset transparency.
• - Real-Time Monitoring: Continuous monitoring and alerts for suspicious activities linked to user accounts.
• - Shield Fund: A substantial $150M self-funded shield for protection against adverse incidents.

Together with regular external audits, systematic updates, advanced encryption protocols, and collaborations with top-notch security experts, BingX is dedicated to reinforcing its platform. The aim is to merge globally accepted security standards with proactive safeguards, forming a transparent and user-centered trading experience.

About BingX

Founded in 2018, BingX has rapidly evolved into a leading cryptocurrency exchange and Web3 AI company, catering to a vast global audience of over 20 million users. The exchange offers a comprehensive range of AI-empowered products that cater to both new and experienced traders, including derivatives, spot trading, and copy trading features.

Notably, in 2024, BingX made headlines as the official crypto exchange partner of Chelsea Football Club, marking an exciting foray into the world of sports sponsorship.

In conclusion, BingX's achievement of the PCI DSS certification sets a new precedent in the cryptocurrency industry, highlighting its unwavering commitment to security and user confidence. As digital assets and fiat systems converge, such security measures are not just beneficial but essential for user trust. As BingX continues to innovate and reinforce its security strategies, users can trade with confidence, knowing that their transactions are supported by the highest standards of protection.