Fireblocks, which offers an institutional level platform for safe transfer of blockchain based virtual assets, obtained the Service Organization Control (SOC) 2 Type II certification carried out by EY.
As a result of numerous EY supervisions, which supposedly took over six months, Fireblocks is currently endorsed as a firm providing technology and facilities that fulfill prevailing stringent security and data security regulations across the world.
Therefore, clients of Fireblocks across the globe can be certain that their info is safeguarded and satisfy with their firm’s rules, checks and legislative criteria.
The latest certification will supposedly permit Fireblocks to lure additional financial players as Fireblocks has already begun negotiations with Wall Street companies. The names of latest likely associates could not be revealed as these discussions are making headway.
Michael Shaulov, CEO and co-founder of Fireblocks, stressed the significance of the reality that the firm was audited by a third party to demonstrate that Fireblocks stands “above and beyond the highest industry standard.”
The SOC report will be monitored on a yearly basis to guarantee that the platform is functioning in accordance with regulations that extend over technology framework, advancement and other activities.
Fireblocks CTO and co-founder Idan Ofrat stated that from the time of launch in June 2019, Fireblocks has secured over $9 billion in digital asset transfers.
The company has begun their operations with $16 million in financing received from top notch investors including Eight Roads, the investment division of top investment management company Fidelity International.
Fireblocks’ platform was deployed by 20 cryptocurrency exchanges including HitBTC and OKEx as of September and supposedly has Galaxy Digital, popular cryptocurrency merchant bank, as one of its clients.