Crypto.com becomes the first trading platform to be compliant with SOC 2 standards thanks to an audit by global consulting company Deloitte so let’s read more about it in our latest cryptocurrency news today.
Popular crypto exchange Crypto.com becomes the first trading platform to be compliant with SOC 2 standards which makes it the first crypto exchange to achieve this standard in traditional finance. Crypto.com successfully implemented the SOC 2 or a Service Organization Control audit which is a common standard in traditional finance which attests to the company being trustworthy and having decent operations and policies. This means that the exchange was certified as the most secure crypto trading platform in existence with the first crypto exchange to pass this SOC 2 standard. Deloitte conducted the audit as an international company that provides audits, advisory services, and consulting tax to worldwide brands.
🔒 Security First: The world’s most secure crypto platform is now even more secure.
— Crypto.com (@cryptocom) November 23, 2021
The company said that the meeting SOC 2 standard reaffirmed its commitment to security and data privacy and it will continue to invest in boosting the platform and to provide a high standard in the industry. Kris Marszalek who is the co-founder and CEO said:
“I am extremely proud of our SOC 2 compliance and shows our commitment to security, privacy, and regulatory compliance which have been cornerstones of our business since day one.”
The company was forging many new partnerships over the year and the latest one was the acquisition of the naming rights for the Staples Center as the home of basketball team LA Lakers which will carry the name Crypto.com Arena in the 20year naming rights agreement worth $700 million. The transition will occur on Christmas Day where the spotlight will be focused on the Crypto.com brand. CRO as the exchange’s native token surged to incredible heights in the past three months with 430% gains with the token trading at $0.85 with a market cap of over $21 billion after a weekly surge of 103.98%. after hitting a new all-time high Crypto.com launched an over-the-counter portal to allow VIP clients and institutional clients to make bigger trades.
As recently reported, The deal between Crypto.com and the stadium owner AEG is worth approximately $700 million which means it surpassed the $135 million deal that FTX did as it got the naming rights for the Miami heat arena. Last month, US-based Coinbase struck a deal with the WNBA, NBA affiliate leagues and now the USA basketball will have a “brand presence” on almost all league courts.
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