Coinbase Prime Receives System And Organization Control Attestation Reports

Coinbase Prime has received two System and Organization Control (SOC) attestation reports, which demonstrate that the company adheres to industry best practices.

According to a blog post published on Tuesday, Coinbase Prime earned SOC 1 Type 2 and SOC 2 Type 2 certifications from the American Institute of Certified Public Accountants (AICPA).

The AICPA governs SOC reports, which are industry standard certifications. They reassure user entities and their auditors about the processes and strength of controls used by a service business to preserve its clients’ assets, which are often data and dollars.

These two certifications emphasize the company’s protocols and security in place to give a world-class experience on its prime brokerage platform. Furthermore, they emphasize that Coinbase Prime‘s system requirements, service obligations, and data protection protections match the stringent criteria required to deliver the most secure prime brokerage solution in the cryptocurrency ecosystem.

SOC 1 investigates internal controls over financial reporting, whereas SOC 2 examines controls based on AICPA trust principles such as security, availability, processing integrity, confidentiality, and privacy. Type 2 reports assess operational effectiveness.

This is another milestone in the exchange’s aim to become the most trusted and compliant primary broker for digital assets worldwide. The business stated that it would continue to conduct SOC 1 and SOC 2 inspections regularly to maintain the same degree of rigorous security and oversight requirements that have positioned it as the largest and most trusted leader in the industry.

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Harold

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