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Wallet Solutions Firm Ledger Obtained SOC Type 1 Test

By Tracy Hannes | October 10, 2020
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Ledger – a crypto firm specialised in hardware wallets – reportedly managed to secure a System and Organization Controls (SOC) Type 1 test. 

Specifically, Friedman LLP, an accounting company from New York, reportedly conducted the SOC 2 Type 1 test on Ledger – which was meant to make sure customer data is appropriately taken care of by the firm. 

“By obtaining the SOC 2 Type 1 report, we are now able to provide an additional layer of verified security to our clients, assuring that the Vault solution is secured at all times and that we have the processes in place to ensure availability.”

Ledger Vault – which functions as a means for storing crypto for big players and firms – is reportedly a custody branch under the broader Ledger firm. 

During the SOC 2 Type 1 analysis, Friedman reportedly ran an investigation on Ledger on a wide range of levels, including its disaster recovery strategy and its security, along with numerous different technical details. 

“Receiving this attestation is an achievement as it shows our processes and systems are streamlined, documented and overall secure” Charles Guillemet, Chief Technology Officer of Ledger, reportedly remarked via a statement. 

In 2021, the firm reportedly looks to obtain a SOC 2 Type 2 approval, per comments in the statement from Head of Ledger Pascal Gauthier.

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