Brane Inc., a leading cryptocurrency custodian, announced today that it is working with MNP to perform SOC 2 assurance covering the security trust criteria for Brane’s custody service.
Service Organization Control (SOC) 2 is a rigorous audit procedure focused on a company’s information security controls, and will build on Brane’s existing ISO 27001, ISO 27017, and NIST Cyber Security Framework Tier 4 certifications for digital assets under custody – one of a select few crypto custodians in the world certified to these standards.
MNP is a leading Canadian accounting, tax, and business consulting firm with extensive experience in SOC 2 certification, including clients in the blockchain and cryptocurrency sectors.
Read More: HSBC Launches Multi-Currency Wallet for Simplified International Payments
The SOC 2 certification process is consistent with the three pillars of Brane’s custody solution: cutting-edge technology, a robust risk management framework, and a regulatory-first approach driven by an experienced leadership team.
“Brane’s SOC 2 certification further demonstrates our commitment to the highest standards of information security and risk management, coupled with industry-leading crypto custodial technology,” said Jerome Dwight, Brane’s President and former CEO of Bank of New York Mellon Canada. “As Brane scales up to meet growing demand for crypto asset safekeeping, our SOC 2 engagement with MNP will further solidify our position as a custody partner of choice for banks, asset managers, and other institutional clients.”
Brane’s SOC 2, Type I assurance process is now underway, with Type II to follow. The company’s custody solution and Information Security Management System were recently recertified to the following global standards by third-party audits:
- ISO 27001 – Information Technology security
- ISO 27017 – Cloud computing security
- Ethereum smart contract penetration testing
- NIST Cyber Security Framework Tier 4 – the highest practical level of assurance for remote network authentication. Brane was the first Canadian company, in any industry, to achieve this certification.
Read More: DailyPay Raises $500 Million to Boost On-demand Pay Solutions Market
