BitGo, a provider of institutional cryptocurrency custody services, today announced it has received a Soc 2 Type 2 certification from a leading audit firm. The report states that BitGo has achieved the highest level of design and implementation controls over its platform.
Last year BitGo was the first to announce a Soc 2 Type 1 audit, which provided assurances that BitGo’s robust financial and security systems and processes satisfied its audit firm’s SOC 2 standards. It was an important milestone for the industry and helped pave the way for institutional investors to enter the marketplace.
Now with a Soc 2 Type 2 audit, BitGo has demonstrated to the external auditor that it follows the strict controls the company outlined in the SOC 2 Type 1 report.
“Building confidence in the cryptocurrency marketplace means having the highest level of controls and processes in place to attract and expand institutional investment,” said Tom Pageler, CSO, BitGo. “Receiving this independent validation from a leading auditor assures existing and prospective clients that we are robustly safeguarding their assets and personal data.”
A copy of this certification is available to current and prospective customers upon request.