Raj Parekh

Raj Parekh

CEO & Co-Founder

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2 min read

Portal is SOC 2 Type 2 certified

Recognition of commitment to highest levels of security and data protection

March 27, 2023

Portal is SOC 2 Type 2 certified

Portal obtained SOC 2 Type 2 certification, recognizing our adherence to strict security controls, policies, and procedures to protect users' digital assets and data. This achievement is a testament to our dedication to building a safe, trusted, and reliable platform for our users.

Portal is proud to announce we have received SOC 2 Type 2 certification, an important milestone as we continue to build a secure platform for any enterprise interested in integrating web3 technology into their business. This certification is a widely recognized industry standard that evaluates a company’s security and operational controls based on the AICPA’s Trust Services Criteria (TSC): security, availability, processing integrity, confidentiality, and privacy.

Portal has undergone a thorough independent audit of our security practices and control systems over a period of 3 months in order to receive this certification. It is an important acknowledgment of our team’s hard work and commitment to being the most trusted wallet infrastructure company in web3.

The importance of SOC 2 Type 2 certification

SOC 2 Type 2 certification provides an assurance to our users that Portal has implemented and adheres to strict security controls, policies, and procedures when handling confidential user information. It verifies that we have a reliable system in place to identify and manage security risks, and that our platform is available, secure, and operates with integrity.

Keeping our users’ assets and data secure is our top priority and a critical part of successfully participating in the web3 ecosystem. Anyone interacting with wallets created by Portal must trust our platform is equipped to safeguard their valuable assets. This type of certification can provide our users with peace of mind that our systems are designed to keep them safe.

As web3 expands and evolves and begins to transform every industry, cyber threats and attacks will inevitably increase. According to the CipherTrace report, in the first five months of 2021, there were more than $432 million in losses due to DeFi-related hacks and scams; in 2020, total losses were $129 million. It is essential for everyone involved with web3 tech to recognize the importance of security and discipline in order to mitigate against these risks.

At Portal, we are committed to the highest level of data and asset security. SOC 2 Type 2 certification is an essential step to achieving this goal.

If you would like to learn about how else Portal embeds enterprise-grade security in our product, please reach out to chat with us