Fordefi Becomes First Institutional DeFi Wallet to Earn SOC 2 Type II Certification
The SOC 2 designation represents a higher level of operational security and reports on controls at a service organization relevant to security, availability, processing integrity, confidentiality and privacy.
March 15, 2023 - Fordefi, a financial technology and software company announced that it has completed its SOC 2 Type II certification by Ernst & Young in accordance with the American Institute of Certified Public Accountants' (AICPA) standards for SOC (Service Organization Control).
Fordefi is currently the only institutional DeFi wallet to be granted this standard of certification which is necessary for institutions to hold digital assets and safely transact in DeFi.
"Security is a central tenant of the Fordefi value prop and is built into the very fabric of our offering," said Josh Schwartz, CEO and Co-Founder of Fordefi. "The rigorous review process for SOC 2 Type II compliance underscores how seriously we take security as a critical factor in our relationship with customers, providing them even greater confidence that their assets are being securely stored and protected. As the first wallet to achieve this level of certification, Fordefi is ready to usher in a new era for institutional DeFi."
This SOC 2 Type II certification follows Fordefi's platform launch in November 2022 since when it has also announced the onboarding of new clients Keyrock and crypto venture investment firm Defiance Capital.
Fordefi has also introduced several new features to its offering, including the launch of the Fordefi Wallet API, Transaction Risk Alerts, Bridge Transaction Enrichment and its Token Allowance Manager.
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