PlatformsMatrixport’s Cactus Custody™ Completes SOC 2 Type 1 Certification

SOC 2 Type 1 validates the strength of Cactus Custody™'s cybersecurity control and design
PRNewswire PRNewswireDecember 12, 20223 min

Matrixport, one of the world’s largest digital assets financial services platform, has announced that its institutional custodian service brand, Cactus Custody™, has successfully completed the SOC (System and Organization Controls) 2 Type 1 audit of its security and data privacy practices.

This certification reflects Matrixport’s commitment to technical and operational best practices in safeguarding customer data and digital assets. As a key industry standard for compliance, SOC 2 examines the security, availability, confidentiality, processing integrity, and privacy of customer data across solutions. Conducted by Deloitte Touche Tohmatsu, the audit included an evaluation of Cactus Custody™’s security controls in accordance with the trust services criteria set by the American Institute of Certified Public Accountants (AICPA).

Cynthia Wu, COO of Matrixport, said, “As a qualified custodian safeguarding digital assets for institutional clients, we have always managed our operations by upholding the highest standards of security. The completion of SOC2 Type 1 certification validates our teams’ dedication in safeguarding customer data and funds. We will undertake this stringent audit annually, such that it becomes part of our routine operations, as an ongoing commitment to our clients worldwide. Cactus Custody will also continue to pursue SOC2 Type 2 audit with Deloitte in the coming months”

First introduced in July 2019, Cactus Custody™ is the institutional custodian service provided by Matrixport, which serves nearly 200 institutional clients, including miners, funds, corporates, foundations and projects. Built with a “security-first” approach for digital assets, Cactus Custody™ is a Hong Kong Trust Company that meets the capital reserve requirement and acts within regulatory and AML guidelines. Cactus Custody™ offers comprehensive enterprise crypto management features, internal control mechanism, unparalleled DeFi connectivity and various value-added financial services.

For more such Updates Log on to https://fintecbuzz.com/ Follow us on Google News Fintech News

PRNewswire

PRNewswire

Leave a Reply

Your email address will not be published. Required fields are marked *

We are one of the world’s leading Fintech-based media publication with our content strategized and synthesized to fit right into the expanding ecosystem of Finance professionals. Be it fintech live news, finance press releases, tech articles from Fintech evangelists or interviews from top leaders from global fintech firms, we give the best slice of knowledge topped up with the aptest trends. Our sole mission is to help tech and finance professionals step up with the rapidly emerging Fintech civilization and gain better insights to emerge victorious in every possible way. We adopt a 360-degree approach in order to cater to present a holistic picture of the fintech arena.

Our Publications



FintecBuzz, 2023 © All Rights Reserved