SOC 2 Type 1 validates the strength of Cactus Custody's cybersecurity control and design
SINGAPORE, Dec. 12, 2022 /PRNewswire/ -- Matrixport, one of the world's largest digital assets financial services platform, has announced that its institutional custodian service brand, Cactus Custody, has successfully completed the SOC (System and Organization Controls) 2 Type 1 audit of its security and data privacy practices.
This certification reflects Matrixport's commitment to technical and operational best practices in safeguarding customer data and digital assets. As a key industry standard for compliance, SOC 2 examines the security, availability, confidentiality, processing integrity, and privacy of customer data across solutions. Conducted by Deloitte Touche Tohmatsu, the audit included an evaluation of Cactus Custody's security controls in accordance with the trust services criteria set by the American Institute of Certified Public Accountants (AICPA).
Cynthia Wu, COO of Matrixport, said, "As a qualified custodian safeguarding digital assets for institutional clients, we have always managed our operations by upholding the highest standards of security. The completion of SOC2 Type 1 certification validates our teams' dedication in safeguarding customer data and funds. We will undertake this stringent audit annually, such that it becomes part of our routine operations, as an ongoing commitment to our clients worldwide. Cactus Custody will also continue to pursue SOC2 Type 2 audit with Deloitte in the coming months"
First introduced in July 2019, Cactus Custody is the institutional custodian service provided by Matrixport, which serves nearly 200 institutional clients, including miners, funds, corporates, foundations and projects. Built with a "security-first" approach for digital assets, Cactus Custody is a Hong Kong Trust Company that meets the capital reserve requirement and acts within regulatory and AML guidelines. Cactus Custody offers comprehensive enterprise crypto management features, internal control mechanism, unparalleled DeFi connectivity and various value-added financial services.
Matrixport is one of the world's largest and most trusted digital assets financial services ecosystem. Matrixport achieved pre-money unicorn valuation in 2021 and, with its relentless focus on product innovation, was named by CB Insights as the 50 most promising blockchain companies in the world in 2022. Matrixport offers the industry's most comprehensive suite of market-leading crypto investment products. Its digital prime brokerage business, Matrixport Institutional, serves over 800 institutions across the US, Europe and Asia, offering best-in-class access, leverage, capital Introduction and custody services.