Trading and investing platform eToro has achieved SOC 2 Type II compliance for its cryptoasset custody services. The certification follows an independent audit assessing the company’s security controls over an extended period.
“Achieving the SOC 2 Type II compliance certification once again underscores our commitment to operational excellence in crypto custody,” Hedva Ber, Deputy CEO and COO at eToro said.
SOC 2 Type II is a compliance framework developed by the American Institute of CPAs (AICPA). It evaluates a service provider’s ability to protect sensitive data based on five trust service criteria: security, availability, processing integrity, confidentiality, and privacy.
According to the firms, the certification process involves an in-depth review of an organization’s systems and operational practices to determine whether they meet established security standards.
Grant Thornton Audits eToro’s Crypto Custody
The audit was conducted by Grant Thornton, which examined eToro’s controls from July 1, 2023, to August 30, 2024. The firm issued an unqualified opinion, indicating that eToro’s security measures were effectively designed and operating throughout the review period. This certification affirms that the company has maintained the required security and compliance standards for its crypto custody operations.
“eToro clients entrust us with their funds, and in turn we implement and maintain the highest standards for the systems and processes throughout our operations. This certification validates our dedication to safeguarding our customers’ cryptoassets with robust security controls and industry best practices,” Ber added.
