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CryptoCom is the first cryptocurrency exchange to meet SOC 2 requirements

CryptoCom, based in Singapore, has received SOC 2 certification following an audit by global consulting company Deloitte. Crypto.com became the first trading platform to meet SOC 2 criteria.

Crypto.com became the first trading platform to meet SOC 2 criteria

CryptoCom is the first cryptocurrency exchange to meet SOC 2 requirements

Image Source: Cointribune

According to a recent news release, Crypto.com has passed the SOC 2 (Service Organization Control) audit, which is a recognized norm in traditional banking that certifies a company’s information practices, policies, and operations are trustworthy.

This implies that Crypto.com has been accredited as the safest cryptocurrency trading platform and the first cryptocurrency exchange to pass the SOC 2 criteria. Deloitte, an international organization that provides audits, consulting, tax, and advisory services to global brands, is in charge of the audit.

Meeting SOC 2 requirements, the company said, underlined its commitment to data privacy and security, and it will continue to invest in improving its platform to provide the industry’s highest standards.

β€œI 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,” said Kris Marszalek, Co-Founder, and CEO of Crypto.com.

Following new deals and partnerships, CRO is gaining popularity

This year, the firm has been forming new alliances at a rapid pace. According to CryptoPotato, the Staples Center, home of the Los Angeles Lakers basketball club, will be renamed Crypto.Com Arena as part of a $700 million naming rights arrangement. The transfer will take place on Christmas Day during a hosted game in which the Crypto.com brand will be the center of attention.

According to recent reports, the transaction between Crypto.com and stadium owner AEG is valued at over $ 700 million, surpassing FTX’s $ 135 million deal when it owned the rights. Coinbase, based in the United States, secured a deal with the WNBA, one of the NBA’s affiliated leagues, last month, and now US basketball will have a “branded presence” on the majority of the league’s courts.

The exchange’s native token, CRO, has soared to extraordinary heights in the previous three months, gaining more than 430 percent. Following a 7-day increase of 103.98 percent, the coin is presently trading at $0.85, with a market cap of nearly $21 billion. Crypto.com established an OTC (Over-the-Counter) portal after hitting an all-time high, allowing institutional and VIP clients to execute huge trades with ease.

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