JAN 19, 2021
Gemini Completes SOC 1 Type 2 and SOC 2 Type 2 Examinations — Leading Crypto Industry
We are delighted to announce that we have completed both SOC 1 Type 2 and SOC 2 Type 2 examinations, covering our exchange and Gemini Custody™ products. The exams were conducted by Deloitte & Touche LLP and make us the world’s first cryptocurrency custodian and exchange to demonstrate this standard of financial operations and security compliance.
At Gemini, we aim to foster trust by demonstrating through action that as a company we follow through on the commitments we’ve made to upholding the highest levels of security and compliance for the benefit of our customers. We have done so by showing definitively through these independent third-party SOC evaluations that our operations and security compliance structures meet robust industry standards. We believe that these standards should be upheld by any cryptocurrency exchange and custodian.
In January 2019, we became the first crypto exchange and custodian in the world to complete a SOC 2 Type 1 examination, and followed that up with a SOC 2 Type 2 examination in January 2020. Building on these milestones, we completed a SOC 1 Type 1 examination in April 2020 and recently completed our SOC 1 Type 2 examination in December 2020.
The SOC 1 evaluates the design and implementation of our financial operations and reporting controls, while the SOC 2 evaluates the design and implementation of our security, availability, and confidentiality controls. The Type 1 examinations assessed those processes at a point in time while our Type 2 examinations test that our system controls across our exchange and custody product have been operating over the period covering 2020.
Gemini will continue to uphold the highest standards of security and operational compliance by undergoing SOC 1 Type 2 and SOC 2 Type 2 examinations on a yearly basis moving forward.
Onward and Upward,
Head of Risk