A leading trading and investing platform has recently received SOC 2 Type II compliance for its cryptoasset custody services. This certification signifies the results of an independent audit that evaluated the company’s security measures over a significant duration.
The SOC 2 Type II is part of a compliance framework established by the American Institute of CPAs (AICPA). It assesses a service provider’s capability to safeguard sensitive information by examining five trust service components: security, availability, processing integrity, confidentiality, and privacy.
This certification process entails a thorough investigation of the organization’s systems and operational protocols to ascertain compliance with defined security standards.
In the United States, the company has submitted a draft Registration Statement on Form F-1 to the SEC, as part of its intentions to launch an initial public offering (IPO) of ordinary shares. The specific number of shares and their price range have not been disclosed, pending the SEC’s review and market conditions. Importantly, this announcement does not represent an offer to sell or request offers for securities.
The SOC 2 Type II audit was undertaken by Grant Thornton, which evaluated the security controls from July 1, 2023, to August 30, 2024. Following this audit, the firm provided an unqualified opinion, confirming that the company’s security protocols were efficiently structured and operational throughout the assessment period. This compliance designation reaffirms the organization’s adherence to required security and compliance standards within its crypto custody services.
As the company handles clients’ funds, it emphasizes the implementation and continuous maintenance of high standards across all operational areas. The certification serves as validation of the organization’s commitment to protecting its clients’ cryptoassets with strong security measures and adherence to industry best practices.