Prime Trust, a platform that enables both digital and traditional assets including custody, has gained a SOC 2 Type 2 certification for managing customer data, according to a company statement.
David Pigott, Prime Trust Chief Security & Risk Officer, said the new certification is further evidence of their abilities to safeguard sensitive customer information:
“SOC 2 Type 2 Certification is the gold standard for institutions who hold and process customer data. Only a handful of other financial infrastructure providers have been certified, and we are proud to join their ranks.”
The certification reassures Prime Trusts clients that the company is ensuring it is securely managing data around the five criteria of security, availability, processing integrity, confidentiality, and privacy. This includes monitoring, encryption, authentication, and recovery capabilities in place for a customers data.
Prime Trust said the approval highlights the company’s position as a trusted partner for today’s Fintechs and financial institutions. In addition to the SOC 2 Type 2 designation, Prime Trust also has earned SOC 2 Type 1 certification, which recognizes the implementation of sound controls to address disruptions and security threats, as well as ISO/IEC 27001:2013 certification around information security management standards.
Tom Brandl, Chief Operating Officer of Prime Trust, added:
“We will continue to follow best practices, seek new certifications, and pioneer new methods to protect our clients’ assets and data – many of which include the world’s leading crypto exchanges, on-ramps, apps, ATS, RIAs, broker-dealers, and banks.”
Prime Trust has emerged as a key component in online capital formation working with most all securities crowdfunding platforms. Prime Trust also supports certain digital assets like Bitcoin Ethereum, USDC and more. Prime Trustis currently integrated with over 500 platforms enabling $2.5 billion transactions a month.
