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The CCSS certificate is the gold standard for the security of digital asset management.
Digital asset management firm, Fireblocks, has received the first Cryptocurrency Security Standard (CCSS) certificate after an audit by CryptoCurrency Certification Consortium (C4). Following weeks of in-depth audits of its people, processes, and systems, Fireblocks received a level-three certification for compliance with the CCSS.
According to the chief auditor, Marc Krisjanous from Confide, “Fireblocks went above and beyond the CCSS Level 3 requirements.”
Deloitte confirmed that only companies with several actors for all-critical operations, advanced authentication mechanisms to ensure data authenticity, and geographic and organizational distribution of assets can obtain the level 3 certification.
Fireblocks noted that the certification was a win for them and their clients since organizations looking to receive a Level 3 certification must have a digital asset service provider on the same level.
Michael Shaulov, co-founder and CEO of Fireblocks, believes their experience working with top banks prepared them for the process.
What Is the CCSS Certificate?
The CCSS certificate is the gold standard for the security of digital asset management. Since its establishment in 2014 by C4, no crypto company has been awarded certificates until Fireblocks. Deloitte reports that the most crypto startups have been able to achieve is a level-one standard.
Executive Director at C4, Jessica Levesque, stated that despite false claims of CCSS certifications by companies in the past, only companies with the highest security standards can get certified.
“What’s unique about CCSS is that it conducts a 360-degree audit that not only includes the technology but also in-depth interviews of the individuals who come in contact with the system, inspection of system configurations, as well as the controls that are in place.”
Oded Blatman, CIO & CISO at Fireblocks stated that the CCSS certificate affirms the company’s commitment to providing the best and most secure platform in the digital asset industry.
A Fast-Growing but Little-known Firm
Since its inception in 2018, Fireblocks has grown rapidly. In January, the firm completed a $550 million Series E funding round. The round brought the total money raised by the company to just over $1 billion. It also helped the company achieve a valuation of $8 billion.
The firm serves thousands of organizations, including Animoca Brands, ANZ Bank, BNY Mellon, Checkout.com, FIS, MoonPay, and Revolut among others. In September, the company announced over $100 million in ARR despite the market downturn. As CEO Michael Shaulov previously noted, Fireblocks may be “the most successful and least-known company in the blockchain space”.