MEXC has released its February Proof of Reserves report, showing a sharp increase in its Bitcoin reserve coverage as the exchange continues to emphasize transparency and asset protection. According to the latest snapshot, the platform holds Bitcoin reserves equivalent to 267% of user deposits, well above the 1:1 backing level widely considered the industry baseline for custodial exchanges.
The exchange said the updated figures highlight its commitment to safeguarding user funds at a time when transparency around exchange reserves has become a key focus for the crypto industry. Proof of reserves reports have become increasingly common since several high-profile collapses exposed the risks of opaque balance sheets in centralized platforms.
Bitcoin reserves expand as exchange holdings grow
The February report shows MEXC currently holds 12,003.98 BTC in its wallets, nearly double the 6,172.88 BTC reported in January. The increase pushed the platform’s Bitcoin reserve ratio from 158% last month to 267%.
Other assets also remained comfortably above the full backing benchmark. Ethereum reserves rose to 73,433.86 ETH with a coverage ratio of 112%. Stablecoin reserves include roughly 1.82 billion USDT and 93.5 million USDC, translating to reserve ratios of 117% and 124%, respectively.
The exchange said these reserve levels reflect its policy of maintaining substantial on-chain backing for user deposits across major assets.
Exchanges strengthen reserve transparency across the industry
Reserve disclosures are becoming more common among large trading platforms as competition shifts toward transparency and financial accountability.
Earlier this month, Binance reported that its Bitcoin reserve ratio stood at 100.07%, with wallet holdings slightly exceeding total user balances. The exchange also disclosed reserve ratios of 100.02% for Ethereum, 103.76% for Tether, and 101.26% for BNB.
Meanwhile, Bitget reported an overall reserve ratio of 169%, including 352% backing for Bitcoin and 147% for Ethereum.
For MEXC, the Proof of Reserves framework relies on Merkle Tree verification and independent audits conducted by Hacken, allowing users to verify balances while preserving account privacy. Meanwhile, MEXC introduced stock futures trading with zero commission fees, marking a significant expansion into traditional financial derivatives.
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