MEXC Demonstrates Commitment to Transparency with Over-Collateralized Reserves

MEXC, a leading cryptocurrency exchange, has published its May Proof of Reserves (PoR) report in collaboration with blockchain security audit firm Hacken. The report highlights that MEXC holds significant over-collateralization across its major cryptocurrency holdings, with reserve ratios exceeding user deposit liabilities.

The PoR report is an essential step towards maintaining transparency and accountability in the industry. MEXC's commitment to regular reporting aims to build trust among users by providing a clear picture of their financial standing.

One notable aspect of the report is the use of a dual reserve structure, combining stablecoin and Bitcoin reserves. This move is expected to diversify the exchange's asset base and provide an extra layer of security for user assets.