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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.

“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,” 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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