OKX Achieves SOC 1 Type 2 Compliance for Institutional Client Data and Asset Protection
NASSAU, the Bahamas, July 22, 2024 /PRNewswire/ — OKX, a leading crypto exchange, today announced that it has successfully achieved System and Organization Controls (SOC) 1 Type 2 compliance, confirming that it meets the highest global standards for protecting institutional clients’ data and assets.
The SOC 1 Type 2 examination was conducted following strict guidelines set by the American Institute of Certified Public Accountants (AICPA). OKX’s successful completion of this examination assures institutional clients that its policies and processes to protect their data are effective and align with best practices.
OKX’s key policies and processes for safeguarding clients’ data and assets include:
- Advanced encryption technologies and rigorous access control procedures
- Monthly reporting of Proof of Reserves, confirming that customer funds are backed 1:1
- A comprehensive incident response plan, enabling OKX to respond quickly and effectively to any potential security breaches
- Regular employee training on security practices
- Stringent backup and recovery processes that ensure data integrity in case of a system failure
An independent auditor conducted OKX’s SOC 1 Type 2 examination for its Bahamas entity (OKX Bahamas FinTech Company Limited) for the period from January 1, 2024, to March 31, 2024.
OKX Chief Legal Officer Mauricio Beugelmans said: “Our successful completion of the internationally recognized SOC 1 Type 2 examination underscores our ongoing commitment to providing a reliable, trusted trading platform for our customers. We take pride in aligning ourselves with global best practices to safeguard customers’ data and assets. As we continue to enhance our security and transparency, we will continue to engage independent, third-party auditors to review our security measures.”
OKX also announced on September 20, 2023 that it has achieved SOC 2 Type 2 certification, demonstrating OKX’s ongoing commitment to governing its services, managing sensitive data and protecting data privacy.
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About OKX
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX offers a secure and trustworthy platform that provides responsible crypto traders with innovative tools to access the world of crypto.
As a global brand and top partner of Manchester City FC and McLaren Racing, OKX uses Web3 technology to redefine how fans connect with their favorite teams. Recent examples include its Unseen City Shirts and Race Rewind digital collectible campaigns, which offer fans real-world benefits like exclusive match-day and trackside experiences. As the Presenting Partner of Tribeca Festival, OKX also empowers artists and creators through Web3.
In line with its “on-chain, any chain” philosophy, OKX contributes to the growth of the Web3 ecosystem via its secure, interoperable and self-custody enabled OKX Wallet. OKX Wallet is a user-friendly gateway to the on-chain world, connecting to over 100 blockchains, 10,000 dApps, 170+ DeFi protocols, 300,000 tokens and 400 decentralized exchanges (DEXs).
OKX is committed to transparency and security, and publishes its Proof of Reserves monthly to build trust. It is also dedicated to expanding its educational resources through OKX Learn, making digital assets accessible and understandable for a broader audience.
To learn more about OKX, download our app or visit: okx.com
Disclaimer
This article/announcement is provided for general informational purposes only and no responsibility or liability is accepted for any errors of fact or omission expressed herein. This content may cover products that are not available in your region. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, hold or offer any services relating to digital assets.
Digital assets, including stablecoins, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. OKX does not provide investment or asset recommendations. You are solely responsible for your investment decisions, and OKX is not responsible for any potential losses. Past performance is not indicative of future results. Please consult your legal/tax/investment professional for questions about your specific circumstances. OKX Web3 features, including OKX Web3 Wallet and OKX NFT Marketplace, are subject to separate terms of service at www.okx.com.
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