The largest supplier of blockchain and cryptocurrency infrastructure in the world, Binance, is happy to announce that its worldwide platform and technology services have successfully completed the System and Organization Controls (SOC) 2 Type II compliance audit. This accomplishment is the most recent manifestation of the organization’s steadfast dedication to raising security standards in the cryptocurrency sector.
Binance completed the SOC 2® Type II audit, which was carried out by reliable third-party assessor A-LIGN, after a thorough, multi-month evaluation of the company’s controls and procedures in two areas: data security and systems protection. The independent audit not only demonstrated that Binance’s controls are properly conceived and executed, but it also confirmed that these controls are widely accepted and function effectively on a daily basis.
Establishing and maintaining robust security standards on its platform and products is crucial for Binance, since it is responsible for safeguarding users’ digital assets and data. According to the SOC 2 audit, Binance is carrying out its obligation in this respect. Additionally, the organization is always improving its systems, as shown by the addition of an extensive array of cutting-edge security measures. Strict access control, sophisticated encryption, and a robust incident response strategy are a few of these precautions.
Jimmy Su, Chief Security Officer at Binance, stated:
“Although the crypto industry has grown and matured over the past years, there remains a gap in the understanding and perception. Collective efforts from industry players are required to affect change and Binance, as the market leader, recognizes that it needs to be at the forefront of such efforts. That is why we’ve dedicated significant resources and effort into demonstrating that crypto platforms are able to meet, and even exceed, the strict standards found in traditional regulated industries. The SOC 2 Type II audit is the latest example, but it won’t be our last.”
An indication of Binance’s commitment to consistently fostering trust, confidence, and dependability within the blockchain ecosystem is the industry-standard accreditations it has obtained. Binance has already obtained the ISO 27001 and ISO 27701 certifications for privacy information management and information security governance in four jurisdictions: France, the United Arab Emirates, Bahrain, and Turkey, all within the last year. Prior to the audit that was released today, it had completed the less rigorous SOC 2 Type I audit in March. The established criteria and requirements will be continuously monitored and audited every year.
These accreditations, which highlight the high standards Binance has established in a variety of compliance and security fields, were obtained thanks to the work of the Security Governance team of Binance.
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