Includes PAX Stablecoin, PAX Gold, Crypto Asset Custody and the itBit by Paxos Crypto Exchange
Trustworthiness is a key pillar of Paxos, our products and our customer service. We’re pleased to achieve a SOC 2 Type 2 Certification for PAX, PAX Gold, the itBit by Paxos exchange and our crypto custody services. This designation underscores our dedication to building the best financial market infrastructure that the world’s most sophisticated brands and enterprises trust. We’re also the first digital asset company to get SOC2 Type 2 verified for our custody, exchange and stablecoin product platforms.
Our third-party, independent auditor has verified Paxos meets the standards set out by the American Institute of Certified Public Accountants (AICPA). Over months of rigorous examination, we demonstrated that our security, data controls, privacy capabilities and technology uphold industry-leading design and operational standards. This designation does not come lightly and Paxos is now one of only a few digital asset operators to get SOC 2 Type 2 certified. This follows our SOC1 Type 2 certification, which we achieved in December 2020.
Increasing our trustworthiness is a key objective for Paxos in 2021 and beyond. We’re committed to becoming the most trusted partner for financial institutions and global companies with millions of customers and billions in assets to protect. We were the first company to get a Trust charter, we’re settling US equities on a blockchain under No-Action relief from the SEC staff, all of our products are regulated, the list goes on. External validation to the safety and soundness of our operations proves we’re doing what’s in our clients’ best interests. By relentlessly pursuing trustworthiness, we’ll grow the digital assets ecosystem and create an open financial system powered by the most modern blockchain infrastructure.