PALO ALTO, Calif.--(BUSINESS WIRE)--BitGo, Inc., the leader in institutional cryptocurrency financial services, today announced that it continues to lead the industry with 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.
BitGo is the leader in institutional digital asset financial services, providing clients with security, custodial, and liquidity solutions. BitGo is the world's largest processor of on-chain bitcoin transactions, processing 15% of all global Bitcoin transactions, and $15 billion per month across all cryptocurrencies. The company supports over 100 coins and tokens, and has over $2 billion in assets in wallet. BitGo’s customer base includes the world's largest cryptocurrency exchanges and spans more than 50 countries. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo is backed by Craft Ventures, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.