SOC 2 Type 2 Attestation Completed by Binance Custody
In addition to the ISO 27001 and ISO 27701 certifications that it previously had, Binance Custody's fundamental technology solution has been certified as satisfying the standards of SOC 2 Type 1. An independent auditor did it.
The company has again demonstrated its devotion to openness by earning SOC 2 accreditation. It was accomplished by conducting independent audits, taking stringent security precautions, and maintaining solid governance and practices. The long-term objective of Binance Custody is to achieve widespread recognition as a partner. That is appropriately regulated, insured, and audited and whose services live up to the requirements posed by the company's clientele.
To show its commitment to offering and maintaining the highest level of security and risk management, Binance aims to complete the SOC 2 Type 2 certification procedure and other industry exams. They are happy to spread the word that the SOC 2 Type 1 and Type 2 attestations for Binance Custody have been successfully completed. Their successful completion at the end of the year demonstrates a devotion to the protection of sensitive information, on the other hand, personal privacy by way of a battery of security tests. A recent external penetration test was performed on the Binance platform, joining these ranks, which also include certifications for ISO 27001 and ISO 27701, respectively.
When evaluating a company's internal controls, a SOC 2 Type 2 report goes above and beyond what a Type 1 report can accomplish since it has been validated by an independent auditor. In other words, a Type 1 report cannot do what a Type 2 report can. To accomplish this goal, the study evaluates the effectiveness of such methods in maintaining the platform's security and protecting client data over time.
Since the company's inception, the primary objective of Binance to become a best forex trading platform. That banks and other financial institutions can utilize to safely store and maintain control of their precious assets and sensitive data. This SOC 2 Type 2 accreditation is a validation of Binance's commitment to providing its clients with the highest possible security and operational compliance levels. Binance's dedication was recognized as the best trading platform when the company received this certification and now Binance become the tope online trading platforms.
On Binance Custody, these safety and risk management audits will be carried out annually starting from this point forward. Binance's institutional-grade custody infrastructure will be maintained. So that Binance can ensure that institutions can continue participating in the ecosystem of digital assets without taking any unnecessary risks.
