Sygnum Bank announces that its next-generation multi-custody platform has successfully received an ISAE 3402 Type 2 assurance report from PwC Switzerland. This is a formal confirmation that Sygnum’s multi-custody platform has again fulfilled the highest-security standards when it comes to the storage of clients’ assets.
The design and operation of Sygnum’s next-generation multi-custody platform continues to meet the industry’s highest standards with the receipt of an ISAE 3402 Type 2 assurance report from PwC Switzerland. The engagement covered control frameworks for the following areas: Key Disclosure Prevention, Key Loss Prevention, Operations Management, Secure Client Transactions and Secure Disaster Recovery. An ISAE 3402 Type 2 covers the description, design and operating effectiveness of controls at a service organisation.
With this comprehensive control framework in addition to regular penetration tests carried out by in-house and external security teams, Sygnum confirms its leadership in offering an independently tested, institutional-grade custody solution for digital assets. This year’s ISAE 3402 assurance report follows the three successful engagements in previous years.
As Sygnum is a financial institution committed to empowering clients to invest in digital assets with complete trust, its secure custody solution – in addition to the people, tech and processes – is not only an essential element in providing institutional-grade support, but is also necessary for managing and reducing counterparty risks.
Thomas Brunner, Sygnum’s Head of Custody and Staking, says
“Empowering our clients to invest in digital assets with complete trust is part of Sygnum’s mission, and our highly secure, institutional-grade custody solution plays a central role in doing so. This assurance engagement, which includes a robust set of safeguards that protect our clients’ assets from any unauthorised access, gives them complete peace of mind and enables them to focus on their investment strategies.”