SOL Strategies Inc. (NASDAQ: STKE), a company that combines a Solana treasury with a “revenue-generating” validator business, announced it has successfully completed its SOC 2 Type 2 & SOC 1 Type 2 examination with no exceptions noted. The audit reportedly validates SOL Strategies’ controls, effective risk management as well as adherence to “industry best practices for its validator operations.”
This milestone builds upon the firm’s certifications and reports, including ISO 27001, SOC 2 Type 1, and SOC 1 Type 1, demonstrating SOL Strategies’ commitment to maintaining the standards of security for institutional clients staking Solana.
The SOC 2 Type 2 examination represents an independent evaluation of SOL Strategies’ security controls “over an extended period, validating not only the design but the operating effectiveness of the company’s security practices.”
The examination assessed the firm’s validator operations, corporate security framework, and operational controls. The so-called independent examination confirmed that SOL Strategies’ controls “operated effectively throughout the examination period to meet the SOC 2 Trust Services Criteria, with no exceptions noted.”
Michael Hubbard, Interim CEO of SOL Strategies stated that this clean report validates the focus on security and reliability of their =validator infrastructure over time, this security is vital for institutions seeking to gain exposure to the Solana ecosystem through established providers.
SOC 2 Type 2 is recognized as the standard for service organizations, demonstrating adherence to security principles such as security, availability, processing integrity, confidentiality, privacy.
Unlike SOC 2 Type 1, which evaluates the “design of controls at a point in time, Type 2 examinations validate operational effectiveness of these controls over a minimum audit period, providing institutional clients with assurance.”
Max Kaplan, CTO of SOL Strategies, added that SOC 2 Type 2 reflects the maturity and resilience of their staking platform and corporate cybersecurity.
Kaplan also mentioned that their institutional clients are able to now trust that they aim to “maintain consistent, enterprise-grade security across every layer of our company.”
SOL Strategies’ security framework includes:
- SOC 2 Type 2: Examination with no exceptions noted, validating ongoing operational effectiveness of security controls for staking operations
- SOC 2 Type 1: Examination confirming design effectiveness of security controls across the staking platform
- SOC 1 Type 1: Examination of internal controls over financial reporting
- SOC 1 Type 2: Examination assessing ongoing operational effectiveness of internal controls over financial reporting
- ISO 27001: International standard for information security management systems