- Crypto.com has completed the SOC 2 Audit, certifying it as the most secure crypto platform in the industry.
- CRO has surged 20 percent in the day following this compliance notice and closure of the largest ever naming-rights deal.
Cryptocurrency exchange Crypto.com has now been certified by global auditing and consulting firm Deloitte as the most secure crypto platform in existence. The Singapore-based crypto trading and investing platform have passed the internationally recognized Service Organization Control (SOC) 2 Audit in a historic first. This means that Crypto.com’s information security practices, policies, procedures, and operations meet the SOC 2 standards for security, availability, confidentiality, and privacy.
As a show of SOC 2 compliance, Crypto.com has ensured its policies and procedures are in line with the AICPA Trust Services Criteria. The auditing process also verified the existence of internal controls as part of validating the exchange’s security measures.
Crypto.com SOC 2 audit
Notably, SOC 2 certification is common practice in the traditional financial industry. Crypto.com embraced this step to secure its position in a highly regulated financial industry. The exchange now boasts of holding several certifications namely: ISO27001, ISO27701, and PCI: DSS (Level 1). The National Institute of Standards and Technology (NIST) rated the platform as “Adaptive (Tier 4).”This is the highest rank possible in the US Department of Commerce cybersecurity framework.
Founded in 2016, Crypto.com takes pride in hosting over 10 million users, alongside its vast insurance policy. The policy, worth $750 million, is the industry’s largest yet. Other than trading digital assets, additional products include a DeFi wallet, an NFT platform, and a Visa Card.
The platform now touts its latest accreditation as evidence for its efforts in rising above the financial sector’s “ever-evolving threats.” Kris Marszalek, co-founder, and CEO of Crypto.com said;
I am extremely proud of our SOC 2 compliance and show our commitment to security, privacy, and regulatory compliance which have been cornerstones of our business since day one,
CRO price differentiation
Contrary to the larger crypto market’s recent price downtrend, the Crypto.com Coin (CRO) has registered 115.3 percent gains this past week. Our data at press time showed CRO trading at $0.8984, having gained 20 percent in the day. The coin now ranks 12th in terms of market cap, a post initially held by meme currency Shiba Inu (SHIB).
CRO’s surge today is a prolongation of strong momentum from the week before. And while the exchange is among many others of its kind, it has managed to secure a key differentiator to its name.
Last Wednesday, Crypto.com signed the largest-ever naming rights deal in history worth $700 million. Its name will now be on the Staples Center, Los Angeles – home of the Lakers of the National Basketball Association – for the next two decades. Investors view this high-profile move as a large bullish indicator, hence the spike in CRO’s price.