Crypto.com, a crypto payment platform has become the first crypto service provider to obtain an ISO/IEC 27701:2019 privacy certification, announced the payment platform on June 2nd. After numerous third-party audits, SGS which is a leading inspection certification provider, granted the golden privacy certification to Crypto.com.
The privacy certification is considered as the new standard for data privacy as it set the standards for Privacy Information Management System within an organization. The certification also requires the assessment of information security risk. The firm seeking this certification can determine the scope of the audit.
Crypto.com underwent a rigorous audit of multiple departments including the mobile application. SGS mainly focused on the privacy information management system that has been put in place to help mitigate privacy risks. SGS examined the company’s privacy risks against the ISO/IEC 27701:2019 standard, The certification for crypto.com for sure is a big achievement, but it needs to continuously maintain the same standard of privacy and data security to maintain its certification status. Jason Lau, Chief Information Security Officer of Crypto.com stated,
“Rather than focusing on one data privacy regulation, our strategy is to work towards having a global data privacy governance model, allowing us to adapt more readily to changing regional regulations. ISO/IEC 27701:2019 is validation to our employees and our customers that our focus is not just security, but also upholding the privacy rights of individuals, and an organizational-wide commitment towards constantly enhancing our global privacy program.”
Crypto.com was founded in 2016 and currently boasts of over 2 million customers. The platform has managed to garner high interest for its privacy features and ease of use. The privacy certification would only boost its contention further.