Extremely selective.

Tier 1 exchanges such as Binance, OKX review hundreds of applications each quarter and approve only a small percentage.

Rejection is rarely about "quality" alone. Decisions are influenced by timing, sector concentration, internal listing pipelines, liquidity expectations, regulatory posture, and commercial alignment. Strong projects are frequently deferred simply due to sequencing or market conditions.

Exchange strategy is therefore less about submission — and more about positioning, readiness, and timing.