SINGAPORE, May 9, 2023 /PRNewswire/ -- Cobo, a leading global digital asset custody solutions provider, has achieved SOC 2 Type II certification, a widely recognized standard for data security and privacy. This achievement provided by Deloitte, a leading global provider of audit and related services, reflects the company's commitment to protecting its clients' assets and data.
Previously in September 2022, Cobo achieved the SOC 2 Type I certification, which assesses the design of security processes at a specific point in time. The SOC 2 Type II certification assesses how effective those controls are over time by observing operations for six months. The certification was granted to Cobo after an extensive audit of Cobo's security policies, procedures, and controls over a period of several months by a third-party auditor, Deloitte. The audit concluded that the company meets the high standards set by the American Institute of Certified Public Accountants (AICPA).
As part of the certification, Cobo demonstrated its ability to safeguard customer data against unauthorized access, maintain system availability, process integrity, and confidentiality. The SOC 2 Type II report provides assurance to clients that Cobo's security measures are reliable and effective.
"Obtaining SOC 2 Type II certification is a significant milestone for Cobo," said Dr Jiang Changhao, the Co-Founder and CTO of Cobo. "This certification attainment showcases our ability to not just enforce crucial security policies but also to exhibit consistent compliance for an extended duration."
The SOC 2 Type II certification further solidifies Cobo's position as a leading provider of secure and reliable cryptocurrency custodial technology and solutions. The company's commitment to providing best-in-class security measures ensures that its clients' assets remain protected against the ever-evolving threat landscape of cybercrime.
Founded in 2017 and headquartered in Singapore, Cobo is one of the largest digital asset custodians globally, trusted by over 500 institutional clients across Asia, Europe, the Middle East, and North and South America, with billions of dollars in assets under custody. Cobo offers a comprehensive suite of custody technologies from full custody (HSM-based) to co-managed custody (MPC-based), and fully decentralized self-custody (smart contract-based). In addition, Cobo provides Wallet-as-a-Service, SuperLoop (off-exchange settlement network), and Argus (on-chain DeFi strategies and tools with role-based access controls). The Company is backed by top-tier global investors including DST Global, A&T Capital, IMO Ventures, and DHVC Capital. In September 2021, Cobo completed its USD 40 million Series B financing round. For more information, please visit https://www.cobo.com/.