Crypto.com has received the ISO/IEC 27701:2019 certification, making it the first-ever crypto and fintech firm to receive the license.
This achievement was made possible due to several demanding audits carried out by external parties. Crypto.com isn’t just the first crypto and fintech firm to receive this license, it is also one of the first companies in the world to receive this certification.
ISO/IEC 27701:2019 certification is the global standard for designing the guidelines for “data protection around personally identifiable information (PII) within the organization”. Hence, it can be safely referred to as a huge milestone in risk management. The company further disclosed that its audit was carried out by top verification and certification firm SGS.
Seen as the current standard for data privacy, Crypto.com recipient of the ISO/IEC 27701:2019 is indeed a great feat. The certificate body lays the groundwork for establishing, implementing, and maintaining a top-notch Privacy Information Management System (PIMS).
Companies looking to acquire this license will be left to specify the scope of its third-party security audits. The audits are as extensive or as narrow as the company deems fit.
Crypto.com prescribed a company-wide audit. All its services, departments, products, functions were included. Its Crypto.com Pay app was also not left out. Furthermore, all audits were carried out according to ISO/IEC 27701:2019 standards. With several checks done to ensure the company already has an effective Privacy Information Management System (PIMS) in place. PIMS, essentially, helps to eliminate any form of privacy risks on the platform.
Crypto.com focused on security and privacy
Crypto.com, prior to this time already has an ISO/IEC 27001:2013 Information Security Management System (ISMS) certification. This new certification is a pointer to the firm’s continued focus on security and privacy. Instead of a “point in time audit”. The firm further promises to continue to uphold the policies, control, and commitment required to retain its recently acquired certification.
Kris Marszalek, Founder, and CEO of Crypto.com further confirmed the announcement on Twitter.
Reinforcing our commitment to compliance, privacy and security — well done @JasonCISO and team —securing ISO 27701:2019 as the first cryptocurrency company globally! #SecurityFirst 🔐 https://t.co/1NbXZyUlBp
— Kris | Crypto.com (@Kris_HK) June 2, 2020
Also adding that this certification further shows the company’s continued commitment to both privacy and security. Marszalek further added that “we will continue investing aggressively in our users, technology, and processes to maintain the highest standard of security and privacy in the industry”.
Speaking on the announcement, Jason Lau referred to the certification as validation to both Crypto.com users and employees. Adding that “this is yet another milestone for our team as we build trust with our customers and partners during our global expansion. This was truly a company-wide effort”. Jason Lau is Crypto.com’s Chief Information Security Officer (CSO).
We previously covered Crypto.com plans to launch its MCO Visa Card Program in Canada. It also recently announced the launch of its alpha testnet, the integration of its Payment Plugin on Ecwid, and integration with Coinzilla.