Custodia Financial institution is happy to have achieved the System and Group Controls (SOC) 2 Kind II audit, showcasing their ongoing dedication to safeguarding information.
In response to the replace shared by Custodia Financial institution, this certification displays their dedication and sharp concentrate on sustaining the “highest requirements of safety, availability, and confidentiality.”
At Custodia, defending their prospects’ information is reportedly a key precedence, and this accomplishment “validates that dedication.”
Caitlin Lengthy, CEO of Custodia stated:
“It’s uncommon for banks within the U.S. to acquire SOC 2 certifications, which Custodia has accomplished, and solely a small variety of U.S. banks sometimes search them. However because the ‘gold normal’ for know-how firms’ safety controls, SOC 2 Kind II certifications are essential for serving essentially the most tech-forward purchasers. Custodia is proud to have obtained each the Kind I and Kind II certifications.”
As coated, Custodia Financial institution, Inc. is a Wyoming financial institution fashioned to function a compliant bridge “to the U.S. greenback funds system and a custodian of digital belongings that may meet the strictest degree of institutional custody requirements.”
Custodia defined that it’s required to completely “adjust to all relevant legal guidelines and rules, together with the Financial institution Secrecy Act and federal ‘know your buyer,’ anti-money laundering and associated legal guidelines and rules.”
Custodia may even adjust to Wyoming’s particular function depository establishment and digital asset legal guidelines, which embrace “necessities that fiat deposits be 100% reserved and that Custodia meet the strictest investor protections within the digital asset business.”
As reported in November 2024, Custodia Financial institution’s Board of Administrators have reportedly voted to additional scale back operations and “protect” capital in anticipation of “main” crypto coverage reforms from the incoming administration in Washington, D.C.
Custodia Financial institution famous that by taking this step forward of the projected flip in U.S. crypto coverage, Custodia nonetheless “preserves” its financial institution constitution, its API-based real-time funds in addition to Bitcoin custody platforms, its patent on bank-issued stablecoins and its “clear compliance” and working file.
Caitlin Lengthy, founder and CEO of Custodia Financial institution stated that she is sort of happy with the Custodia group, the companies they’re constructing for his or her prospects, and their resilience within the “face of repeated debankings as a result of no fault of our personal.”
Lengthy added that she particularly thanks Custodia’s prospects and shareholders who’ve helped them “proceed the battle for sturdiness of banking entry for the law-abiding U.S. crypto business.”
