Huobi Financial Inc. which runs the Huobi exchange has announced that it has obtained the Payments Card Industry Data Security Standard (PCI DSS) certification after passing the assessment which boosts the card information security on its platform.
The PCI certification is a set of standards against which the practices and the technology in place at the exchange are evaluated. If the infrastructure and the practices pass these standards, then the exchange is deemed to be PCI compliant and it is a certification that says that the information that the users present to the website for credit cards and debit cards is safe from any kind of fraud or data theft.
“PCI certification is considered the best practice for the safeguarding of sensitive data and information, thereby helping us build long-lasting and trusting relationships with our customers. To obtain the certification, Huobi has to pass a comprehensive review of 12 requirements and more than 200 assessments based on the PCI DSS standards,” said Ciara Sun, Vice President of Huobi Global Markets.
Huobi is one of the largest crypto exchanges in the world and like many of the crypto exchanges, security would be key over here as client funds are at stake at all times. We have been reports regularly about crypto exchanges undergoing hacks either to steal data or crypto from them and that is why it is key for any crypto exchange to make sure that their data is safe. It is also important for any exchange to give that confidence to its traders and investors so that they would also find it easy to open their accounts at the exchange and trade with the mindset that their funds are safe. Such certifications help to give peace of mind to the traders.
“Successfully passing the strict and complicated certification process indicates that Huobi possesses leading capabilities on security operation and safety protection. It also reflects our great emphasis on cardholders’ information security. We believe that we can maintain our security construction work at an advanced level by leveraging our advantages in technology R&D and experiences in operation and management,” added Ciara.
Huobi has been one of the pioneers of the crypto industry and the exchange continues to grow and diversify and also has been aggressively pushing for the expansion of the crypto industry. This is another proof that the exchange is here to stay and would continue to innovate and upgrade to keep up with the industry standards.