Tether USDT announces completion of the highest level SOC compliance audit gold standard

USDT, the leading stablecoin whose market capitalization currently exceeds the $100 billion mark and has grown more than 14% year-to-date, has its issuer Tether setting a new milestone in security audits.

Tether completed the first type of SOC2 audit

Yesterday (1), Tether announced the successful completion of System Organization Control (SOC) )2 Type 1 audit, which is the preliminary stage of the “highest level of security compliance” an organization can demonstrate. This audit was developed by the American Institute of Certified Public Accountants (AICPA) and is the “gold standard” in security compliance.

In this regard, Tether CEO Paolo Ardoino said: This compliance measure assures our customers that their assets and data are properly managed in an environment that meets the highest standards of data protection and information security. environment. This independent verification is extremely important to Tether and demonstrates our commitment to becoming the world’s most trusted stablecoin and compliance.

Tether undergoes annual SOC2 audits to ensure that its operations and security practices meet the highest standards. There is a second type of SOC2 audit. The difference from the first type is that the first type focuses on a specific point in time, while the second type evaluates the effectiveness of operations over a specified period of time. Tether stated that it aims to obtain SOC2 Type 2 certification before the end of 2025, which will evaluate the operational effectiveness of Tether’s internal controls within 12 months.

Five Standards of SOC2 Audit

According to the announcement, the standards of SOC2 audit are based on five key "Trust Service Principles":

• Security: These are the measures to protect consumer data from unauthorized access, including firewalls, intrusion detection systems, and strengthened authentication protocols .

• Availability: Focus on maintaining a reliable and active network, while also focusing on the efficiency of problem solving. This means that systems need to meet established operational standards and be able to be quickly fixed when problems occur.

• Processing Integrity: Focus on whether the system achieves its purpose, which is to provide accurate information at the right price and at the right time. The data.

• ##Confidentiality (Confidentiality): Limit access and disclosure of data to authorized individuals or organizations, and emphasize that Data is encrypted during data transmission.

• Privacy: Ensure that personal information is collected, used, stored and disclosed in a responsible manner.

#When conducting a SOC2 Type 1 report, the organization's compliance with these principles is assessed. In the case of Tether, the report will ensure that Tether has strong IT controls in place to keep their systems secure, accessible when needed, and keep information private. This includes checking firewalls, intrusion detection, and strengthening customer identities. Measures such as verification, as well as network reliability and speed of problem resolution.

Therefore, the SOC2 audit is not to review the reserve transparency behind USDT, but to evaluate the relevant control measures adopted by the organization's information system and data protection based on the above principles.

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