Bybit, a digital currency exchange, is now ISO 27001 certified, per a recent press release.
Bybit’s ISO 27001 certification
The International Organization of Standardization (ISO) 27001 certification is a mix of numerous procedures for every organization regardless of size. The framework is focused on systemically protecting user information in a cost-effective way.
The ISO 27001 framework is designed on 3 principles, first, on confidentiality, which ensures that only authorized personnel who have the right can access the necessary information. Furthermore, emphasizing integrity ensuring that only individuals with the right authorization can appropriately alter information stored. This framework likewise looks at availability, meaning the right information must be accessible to the right individual whenever it is needed.
With the attainment of the universally recognized ISO 27001, Bybit is committed to information security, management of danger efficiency and regulatory compliance. This can set up the exchange as a vanguard on user safety, transparency and data security in the cryptocurrency industry.
Ben Zhou, co- founder and CEO of Bybit, stated this certification demonstrates their commitment to security:
“This certification is a testament to our dedication to supplying our customers with the highest level of safety possible. We are committed to protecting our client’s funds via industry-leading cold wallet and independent custody solutions. Furthermore, our prudent management has seen us grow our user base by 50 percent regardless of industry-wide headwinds. This certification inspires us continuation to provide next-level opportunities to our large base of institutional and retail clients.”
The security management system will be effected on May 18. With ISO 27001’s focus on information security, this certification is expected to implement and maintain the best practices to safeguard user assets.
The rigorous standards for information security management certification are difficult to surpass. To accomplish that, Bybit had to be dedicated to compliance, danger management, and operational efficiency.
This serves as proof to both retail users and institutional investors, which boosts their confidence in Bybit’s operations.
Certification strengthens security
Bybit’s ISO 27001 certification increases the exchange’s capacity to identify, evaluate and respond to potential security dangers. Through comprehensive danger assessments and the implementation of appropriate security measures, Bybit mitigates dangers of hack or major security incidents.
