Trading and investing platform eToro has achieved SOC 2 Type
II compliance for its cryptoasset custody services. The certification follows
an independent audit assessing the company’s security controls over an extended
period.
eToro Achieves SOC 2 Type II Certification
“Achieving the SOC 2 Type II compliance certification
once again underscores our commitment to operational excellence in crypto
custody,” Hedva Ber, Deputy CEO and COO at eToro said.
SOC 2 Type II is a compliance framework developed by the
American Institute of CPAs (AICPA). It evaluates a service provider’s ability
to protect sensitive data based on five trust service criteria: security,
availability, processing integrity, confidentiality, and privacy.
According to the firms, the certification process involves
an in-depth review of an organization’s systems and operational practices to
determine whether they meet established security standards.
Grant Thornton Audits eToro’s Crypto Custody
The audit was conducted by Grant Thornton, which examined
eToro’s controls from July 1, 2023, to August 30, 2024. The firm issued an
unqualified opinion, indicating that eToro’s security measures were effectively
designed and operating throughout the review period. This certification affirms
that the company has maintained the required security and compliance standards
for its crypto custody operations.
“eToro clients entrust us with their funds, and in turn
we implement and maintain the highest standards for the systems and processes
throughout our operations. This certification validates our dedication to
safeguarding our customers’ cryptoassets with robust security controls and
industry best practices,” Ber added.
Trading and investing platform eToro has achieved SOC 2 Type
II compliance for its cryptoasset custody services. The certification follows
an independent audit assessing the company’s security controls over an extended
period.
eToro Achieves SOC 2 Type II Certification
“Achieving the SOC 2 Type II compliance certification
once again underscores our commitment to operational excellence in crypto
custody,” Hedva Ber, Deputy CEO and COO at eToro said.
SOC 2 Type II is a compliance framework developed by the
American Institute of CPAs (AICPA). It evaluates a service provider’s ability
to protect sensitive data based on five trust service criteria: security,
availability, processing integrity, confidentiality, and privacy.
According to the firms, the certification process involves
an in-depth review of an organization’s systems and operational practices to
determine whether they meet established security standards.
Grant Thornton Audits eToro’s Crypto Custody
The audit was conducted by Grant Thornton, which examined
eToro’s controls from July 1, 2023, to August 30, 2024. The firm issued an
unqualified opinion, indicating that eToro’s security measures were effectively
designed and operating throughout the review period. This certification affirms
that the company has maintained the required security and compliance standards
for its crypto custody operations.
“eToro clients entrust us with their funds, and in turn
we implement and maintain the highest standards for the systems and processes
throughout our operations. This certification validates our dedication to
safeguarding our customers’ cryptoassets with robust security controls and
industry best practices,” Ber added.
This post is originally published on FINANCEMAGNATES.
