Cactus Custody partners with Deloitte to complete SOC 1 Type 1 certification, strengthening trust in crypto custody

Singapore - February 20, global leading institutional-grade cryptocurrency custody service provider Cactus Custody today announced its partnership with Deloitte to complete the SOC 1 Type 1 certification. This certification marks Cactus Custody's capability of maintaining high industry standards in operational controls for cryptocurrency custody. Cactus Custody is committed to providing customers with secure and reliable cryptocurrency custody solutions, along with personalized one-stop custody services.

Deloitte, as the independent auditing firm, conducted a comprehensive review of Cactus Custody, covering various areas including client account opening, fiat and cryptocurrency transactions, and internal system operations, and verified its financial processing capabilities, including settlement, reconciliation, account management, fee processing, asset valuation, reporting, and key lifecycle management under various storage methods.

SOC 1 serves as a benchmark for measuring the effectiveness of operations and controls across industries. Completing the SOC 1 Type 1 certification reflects Cactus Custody's high pursuit of compliance auditing in the cryptocurrency custody industry and validates its ability to protect client assets and ensure the accuracy of financial information from an auditing perspective.

Wendy Jiang, General Manager of Cactus Custody, stated: "Obtaining the SOC 1 Type 1 certification is not only a strong testament to our commitment to robust governance, precise financial management, and secure custody, but also a concrete reflection of our continuous improvement in service quality and industry standards. We always prioritize the security of our clients' assets and strictly control internal processes to ensure we provide the highest level of service in the industry. In the future, we will continue to promote compliance auditing and transparency, striving to set higher benchmarks in the rapidly evolving cryptocurrency asset space, enhancing client trust and satisfaction."

Cactus Custody has previously completed the SOC 2 Type 2 certification conducted by Deloitte and plans to drive the completion of the SOC 1 Type 2 report within this year. Cactus Custody will continue to enhance cryptocurrency custody standards, promote further compliance in the custody industry, and provide robust custody services and industry-leading security through regular review disclosures.

About Cactus Custody

Cactus Custody, as a trusted leader in institutional-grade cryptocurrency custody, has obtained ISO certification and holds a Hong Kong license (No. TC006789), while also receiving a temporary exemption from the Monetary Authority of Singapore (MAS). We strictly adhere to capital reserve standards and anti-money laundering and counter-terrorism financing regulations, simplifying cryptocurrency asset management with professionalism and confidence, always upholding the mission of "Safety First, Integrity Based" to protect your cryptocurrency assets.