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These two certifications highlight the procedures and security we have in place to provide a world class experience on our custodial platform.
Since its founding in 2012, Coinbase has prided itself on “building trust through compliance.” This ethos impacts everything we do and each service we provide. From being awarded one of the first New York Bitlicenses in 2017, to recently obtaining e-money licenses in the UK and Ireland, compliance is central to our mission of creating an open financial system for the world.
Coinbase Custody is proud to carry this torch. Being licensed as a New York Limited Purpose Trust Company under the NY Department of Financial Services’ supervision demonstrates to our clients that we are held to the same rigorous compliance, security and auditing standards as traditional financial services companies.
Today, we are excited to share the next phase of this journey. In partnership with Grant Thornton, LLP, Coinbase Custody recently completed its SOC 1 Type 2 (“SOC 1”) and SOC 2 Type 2 (“SOC 2”) examinations for the period of July 1, 2019 to December 31, 2019.
We are proud to be the first crypto custodian to attain both of these prestigious reports.
For our clients, these reports highlight the procedures and security we have in place to provide a world class experience on our custodial platform. They reinforce that Coinbase Custody’s system requirements, service commitments, and data protection safeguards meet the rigorous standards necessary to provide the safest custody solution in the crypto ecosystem.
Being the first crypto custodian to be issued both the SOC 1 Type 2 and SOC 2 Type 2 reports is yet another milestone demonstrating our commitment to being the world’s most trusted and compliant custodian of crypto assets. Paired with our industry-leading, comprehensive insurance policies, these affirmations offer our clients peace of mind when it comes to the storage, accounting and compliant care of their digital assets.
As we move forward, we will continue to perform regular SOC 1 and SOC 2 examinations to maintain the same level of rigorous security and oversight standards that has established us as the largest and most trusted leader in the space.
Coinbase Custody is the world’s largest and fastest growing crypto custodian. If you’re interested in helping to build the utility phase of crypto, we’re hiring!