Blockchain
Nexo Passes SOC 2 Type 2 Audit With Independent Auditor
Nexo, a leading platform in the digital assets sector, has renewed its commitment to data security by successfully completing a SOC 2 Type 2 audit and achieving a new SOC 3 Type 2 assessment without exceptions. These audits, conducted by the independent auditor A-LIGN, evaluated Nexo’s compliance with stringent Trust Service Criteria, particularly focusing on Security and Confidentiality.
Key Achievements and Scope Expansion
The recent audits not only reaffirmed Nexo’s compliance with the SOC standards but also expanded the scope to include additional Trust Service Criteria, with a particular emphasis on Confidentiality. This expansion demonstrates Nexo’s proactive approach to enhancing data protection measures and ensuring that user information remains secure.
The Importance of SOC 2 and SOC 3 Compliance
The SOC 2 standard, established by the American Institute of Certified Public Accountants (AICPA), assesses an organization’s internal controls related to security, availability, processing integrity, confidentiality, and privacy. The SOC 3 report, which is a general use report, provides an overview of these controls, confirming that they meet the high standards set by SOC 2. Achieving these certifications, especially with no exceptions, highlights Nexo’s strong governance and robust data protection practices.
Commitment to Security Standards
Nexo’s dedication to security and compliance is further illustrated by its adherence to the highest standards in the industry. This includes meeting the CCSS Level 3 Cryptocurrency Security Standard for asset storage and obtaining ISO 27001, ISO 27017, and ISO 27018 certifications, all granted by the certification body RINA. Additionally, Nexo holds the CSA Security, Trust & Assurance Registry (STAR) Level 1 Certification, further solidifying its reputation as a secure and reliable platform in the digital assets space.
Nexo’s Leadership Perspective
Milan Velev, Chief Information Security Officer at Nexo, emphasized the significance of these achievements, stating, “Completing the gold standard in client data protection for the second consecutive year brings me great pride and a profound sense of responsibility. It is crucial for Nexo customers to have compliance peace of mind, knowing that we diligently adhere to security regulations and remain committed to annual SOC audits.”
Nexo’s recent SOC 2 and SOC 3 certifications, along with its comprehensive set of security certifications, underscore the company’s unwavering commitment to data security and regulatory compliance. These achievements provide Nexo’s clients with the assurance that their data is handled with the highest level of security and confidentiality, positioning Nexo as a trusted partner in the digital asset industry.
Source: cryptodaily.co.uk
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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