DUBAI, UAE, Dec. 18, 2023 /PRNewswire/ — Binance, the world’s leading blockchain and cryptocurrency infrastructure provider, is delighted to announce the successful completion of the System and Organization Controls (SOC) 2 Type II compliance audit for its global platform and technology services. The achievement represents the latest in the organization’s unwavering commitment to enhance security standards in the crypto industry.
Conducted by trusted third-party assessor A-LIGN, the SOC 2® Type II audit was completed by Binance following a comprehensive multi-month assessment of the organization’s controls and practices in two areas: systems protection and data security. On top of revealing that Binance’s controls are well-designed and appropriately implemented, the independent audit also validated the day-to-day operational effectiveness of these controls and is globally recognized.
As a custodian of users’ digital assets and data, it is pivotal that Binance establishes and maintains strong security protocols on its platform and products. The SOC 2 audit shows that Binance is fulfilling its responsibility in this regard. The organization is also continuously enhancing its systems, such as through the incorporation of a comprehensive suite of state-of-the-art security measures. These measures include, but are not limited to, stringent access management, advanced encryption, and a resilient incident response protocol.
Jimmy Su, Chief Security Officer at Binance, shared, “Although the crypto industry has grown and matured over the past years, there remains a gap in the understanding and perception. Collective efforts from industry players are required to affect change and Binance, as the market leader, recognizes that it needs to be at the forefront of such efforts. That is why we’ve dedicated significant resources and effort into demonstrating that crypto platforms are able to meet, and even exceed, the strict standards found in traditional regulated industries. The SOC 2 Type II audit is the latest example, but it won’t be our last.”
Binance’s dedication to continuously build trust, confidence, and reliability in the blockchain ecosystem can be seen through the industry-standard accreditations it has secured. In the past year alone, Binance has already received the ISO 27001 and ISO 27701 certifications for information security governance and privacy information management in four jurisdictions: France, United Arab Emirates, Bahrain, and Turkey. It also completed the less stringent SOC 2 Type I audit, a precursor to the audit announced today, earlier in March. Annual surveillance audits will be done to ensure continued conformity with the standards and requirements set out.
These accreditations were obtained through the efforts of the Security Governance team at Binance, and are instrumental in spotlighting the high standards that Binance has set in a wide range of compliance and security domains.