Transak Makes History as the First Global On/Off-Ramp Provider to Win SOC 2 Type 2 Compliance
In Brief
Transak has proudly reached SOC 2 Type 2 compliance, marking itself as a pioneering provider for cryptocurrency on and off ramps.
A provider of infrastructure for Web3 payments onboarding Transak The company has shared its news of achieving SOC 2 Type 2 compliance following a rigorous audit process, distinguishing itself as the first crypto on- and off-ramp service to do so.
"Successfully passing the compliance audit is a significant accomplishment for Transak, highlighting our commitment to maintaining high standards of data security and privacy within the web3 landscape. This achievement bolsters our resolve to keep our customers' sensitive information secure and accessible,\" stated Sami Start, CEO of Transak.
Throughout the course of the audit, Transak's technology systems and operational methodologies were thoroughly evaluated over several months. Completing this process confirms that Transak’s payments the infrastructures for processing, software solutions, policy frameworks, procedures, and data safeguards have all been validated to align with established global standards for data privacy and protection.
With its new compliance status, Transak is well-positioned to form collaborations with major enterprises in sectors like technology, finance, and healthcare, ensuring secure management of important customer data. cloud services Developed by the American Institute of Certified Public Accountants (AICPA), the SOC 2 Type 2 standard is a globally recognized security benchmark dictating how organizations should protect consumer data while mitigating risks, including unauthorized access and potential security breaches.
Transak Reaches New Security Milestones
serves as a facilitator that smooths the transition between traditional finances and cryptocurrency resources. When integrated into Web3 platforms, Transak simplifies the processes of customer onboarding, KYC, risk management, compliance, and customer support, empowering users to buy or sell digital currencies.
Founded in 2019, Transak is a global web3 payment Transak holds necessary licenses and compliance certifications across regions such as the United States, the United Kingdom, India, and the European Union, and has been integrated into various web3 applications, including
and Coinbase Wallet. The platform employs robust 256-bit SSL encryption along with advanced identity verification processes to maintain high security standards. MetaMask Recently, the company achieved an additional certification for its information security management systems. The newly acquired ISO/IEC 27001:2022 certification indicates that Transak adheres to top-tier standards for risk management and data handling compliance.
With SOC 2 Type 2 compliance in place, Transak seeks to reinforce industry-leading data privacy and security for its users, opening doors for strategic partnerships with significant companies across both Web2 and Web3 environments.
System and Organization Controls (SOC) 2 Type 2
Disclaimer
In line with the Trust Project guidelines Alisa, a committed journalist at Cryptocurrencylistings, specializes in the intricate realms of cryptocurrency, zero-knowledge proofs, investments, and the ever-expanding world of Web3. With a sharp focus on emerging trends and technologies, she provides in-depth analysis to engage and inform readers about the continuously shifting landscape of digital finance.
