Summary: Coinbase’s prime brokerage, Coinbase Prime, has received SOC 1 Type 2 and SOC 2 Type 2 certifications, according to a blog post on Tuesday. SOC reports are attestments to a business’ practices, certifying that it is following the highest standards within an industry. SOC 1 examines organizational controls over financial reporting, while SOC 2 looks ...
Coinbase’s prime brokerage, Coinbase Prime, has received SOC 1 Type 2 and SOC 2 Type 2 certifications, according to a blog post on Tuesday. SOC reports are attestments to a business’ practices, certifying that it is following the highest standards within an industry.
SOC 1 examines organizational controls over financial reporting, while SOC 2 looks at controls based on AICPA’s five trust principles of security, availability, processing integrity, confidentiality, and privacy. Type 2 looks at how effective those controls are.
“These two ceritificates…reinforce that Coinbase Prime’s system requirements, service commitments, and data protection safeguards meet the rigorous standards necessary to provide the safest prime brokerage solution in the crypo ecosystem,” the blog post said.
Author: Katie Lin
Tags: Coinbase,Coinbase Prime,Prime Brokerage,SOC,SOC 1,SOC 2,Type 2
Link: Coinbase Prime Brokerage Receives Operational Recognition [Copy]
