World’s Second Largest Crypto Exchange Launches P2P Shield to Bolster Security

In a significant move to strengthen cryptocurrency trading security, the world’s second-largest cryptocurrency exchange has rolled out a new initiative. Bybit, the second largest by trading volume, announced the launch of a program focused on enhancing “user security and trust in its peer-to-peer (P2P) trading platform.” This was revealed in an announcement by the crypto exchange platform.

Bybit, a crypto exchange platform committed to offering users a secure and reliable P2P trading service, revealed that the initiative will help protect eligible users against fraudulent financial P2P transactions on the platform. Bybit mentioned that this development was released to address recent incidents of low confidence in the exchange’s P2P trading.

According to the report, the Bybit P2P Shield will help the exchange regain user confidence by protecting them from fraudulent activities while participating in P2P transactions on the platform.

To ensure security and confidence in P2P trading activities, Bybit noted that the P2P Shield launch will provide a “protective safety net” and offer compensation to users in case of fraud, helping to recompense them for their losses.

Bybit Extends Operations to Argentina, Introduces VASP and Card Operator Approval

Bybit has just announced the expansion of its operations to Argentina. To ensure compliance with regulations and the security of crypto exchange users in Argentina, Bybit additionally revealed that it “has registered as a virtual asset service provider (VASP) and card operator” in the country.

This development, as revealed, will allow crypto exchange users easier and more secure access to Bybit’s services, potentially improving crypto adoption in the country.

Bybit stated that its registration as a VASP in Argentina demonstrates its adherence to the country’s anti-money laundering (AML) and counter-terrorism financing (CFT) regulations.

The co-founder of Bybit, Ben Zhou, while celebrating the achievement, mentioned that the new development showcases the company’s commitment to providing accessible and secure crypto services to users in Argentina and around the world.