Circle Announces the Completion of SOC 2 Type 2 Security Audit

Circle, the famous financial technology company and $USDC issuer, has recently announced the accomplishment of an exclusive security audit. It has reportedly conducted a System and Organization Controls 2 Type 2 audit in line with the standards that the American Institute of Certified Public Accountants has established. The respective audit plays the role of a rigorous examination that an autonomous auditor conducts. Earlier, Tether ($USDT) completed the same audit as well.

We reached a major compliance milestone by completing a SOC 2 Type 2 audit under the rigorous standards established by @AICPA. https://t.co/XE6MklI2YL

— Circle (@circle) April 16, 2024

Circle Conducts Successful SOC 2 Type 2 Security Audit for Transparency and Security

With this, the company achieves the chief objectives concerning technology and security. In addition to this, Circle ensures the efficiency in protecting the confidentiality, availability, and security of the systems thereof. Dissimilar to the report of SOC 2 Type 1, Type 2 denotes an elevated security compliance. On the other hand, the former does not comprise complete testing and auditing.

The current achievement discloses the firm commitment of the company to safeguarding the assets of the consumers. Additionally, it reveals that the firm is determined to maintain financial and personal data security. Circle’s Chief Information Security Officer “Marlys Rodgers” commented on this development. According to the executive, this audit presents a landmark in the company’s endeavors for more transparency and security.

Audit Enhances Transparency and Security

Apart from that, he added, the audit proves significantly helpful for the chief stakeholders and the consumers. In this respect, it reportedly offers a transparent and comprehensive overview. This takes into account the controls and procedures of the platform to provide additional confidence to Circle’s position concerning security.

Moreover, it potentially makes the information security project of the company more resilient. The AICPA operates as the most impactful group of expert accounts around the world. A few days back during this month, Tether also completed its audit to guarantee its compliance.