Tungsten Custody Solutions Secures SOC 2 Type 2 Recertification - Middle East Business News and Information
Abu Dhabi, UAE – 4 March, 2025 – Tungsten Custody Solutions Ltd, a leading regulated digital asset custodian, has successfully retained its SOC 2 Type 2 certification with an Unqualified Opinion from Ernst & Young, one of the world's leading professional services firms. This achievement underscores Tungsten's commitment to the highest standards of security, compliance, and risk management in safeguarding digital assets.
The recognition of retaining SOC2 Type 2 builds on the 2024 Continuity Insurance and Risk Global Category shortlisting of Tungsten Custody Solutions in November 2024 and also Tungsten's ISO27001:2022 accreditation, which has also been retained following successful surveillance assessment in December 2024.
What This Means for Our Clients
The SOC 2 Type 2 certification is a globally recognised audit standard developed by the American Institute of Certified Public Accountants that evaluates an organisation's controls over security, availability, processing integrity, confidentiality, and privacy. Achieving this certification with an 'Unqualified Opinion.' This is the highest level of assurance that demonstrates that Tungsten has implemented and maintained industry-leading security and compliance controls without exception.
A Testament to Robust Security & Compliance
Jose J. Perez Aguinaga, SEO of Tungsten, commented:
'As a regulated custodian, security and risk management are at the core of everything we do. Retaining SOC 2 Type 2 with an Unqualified Opinion from EY is a testament to our unwavering commitment to providing our clients with the highest level of security and operational excellence in digital asset custody. This milestone reinforces our position as a trusted partner for institutions navigating the digital asset landscape.'
Rushikesh Shreshtha, Chief Information Security Officer (CISO) of Tungsten, added:
'Security is the foundation of digital asset custody, and achieving SOC 2 Type 2 certification confirms our ability to meet the strictest security and compliance standards. Our team has worked diligently to establish best-in-class security protocols, risk management frameworks, and operational resilience. This certification is not just a milestone, it's a reflection of our ongoing commitment to securing digital assets in an evolving threat landscape.'
Commitment to Institutional-Grade Custody
Tungsten continues to lead the industry by maintaining robust internal controls, risk management frameworks, and compliance standards aligned with global regulatory requirements, including FSRA regulations in Abu Dhabi Global Markets (ADGM). This achievement further strengthens Tungsten's reputation as a secure and compliant custody provider, ensuring institutional clients, asset managers, and enterprises can rely on its best-in-class infrastructure for safeguarding their digital assets.
Looking Ahead
With SOC 2 Type 2 compliance retained, Tungsten remains dedicated to continuous improvement, third-party audits, and innovation in secure digital asset custody. This certification reinforces Tungsten's ongoing mission to set new industry benchmarks in security, risk management, and regulatory compliance.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
24-03-2025
- Mid East Info
National Bank of Fujairah achieves two ISO certifications - Middle East Business News and Information
Prestigious certification demonstrates NBF's commitment to information security and quality management. Dubai: Reaffirming National Bank of Fujairah (NBF)'s commitment to operational excellence across its business, the bank has achieved certification for two global quality standards. The certifications include ISO 27001:2022 in Information Security Management System and ISO 9001:2015 in Quality Management System. Commenting on the certifications, Mahendra Dhillon, Chief Operations and Technology Officer at NBF, said: 'This accomplishment reflects NBF's unwavering commitment to excellence in customer experience and optimal digitisation. The certification process was expertly led by the IT Governance team, with invaluable contributions from various departments, including IS&T. We extend our sincere gratitude to the Information Security team for their critical role in this success. We believe this milestone will further strengthen our capabilities and inspire us to elevate IS&T services to even greater heights.' ISO certifications are globally recognised as the leading international standards for quality, health and safety, environmental, and facilities management systems. They provide a comprehensive and reliable framework that enhances the ability of organisations to improve operational efficiency, while maintaining the highest global standards through unified and integrated processes. ISO 27001:2022 is the internationally recognised standard for managing information security risks. It provides a comprehensive framework to establish, implement, maintain, and continuously improve an organisation's information security management system. This certification reinforces NBF's commitment to protecting sensitive information, mitigating cyber threats, and ensuring data security across all business operations. ISO 9001:2015 is the globally recognised standard for quality management. It sets out the criteria for a robust quality management system, focusing on customer satisfaction, continuous improvement, and process efficiency. Achieving this certification highlights NBF's dedication to maintaining the highest standards of service quality and operational excellence. Showcasing the bank's commitment to both UAE national quality standards and international best practices, these certifications ensure NBF continues to drive excellence and innovation. The certifications are valid for three years, subject to successful completion of annual surveillance audits.
Mid East Info
07-03-2025
- Mid East Info
Tungsten Custody Receives Regulatory Approval to Provide Custody for Toncoin (TON) in ADGM - Middle East Business News and Information
Abu Dhabi, UAE: Tungsten Custody Solutions, a leading regulated digital asset custodian, is pleased to announce that it has received regulatory approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to provide custody for Toncoin (TON). This approval further strengthens Tungsten's position as a trusted custodian for institutional clients seeking secure and compliant custody solutions for digital assets. The approval comes at a time when ADGM continues to expand its role as a leading global hub for digital assets, with Toncoin (TON) DLT Foundation recently establishing its base in ADGM. This development highlights Abu Dhabi's commitment to fostering blockchain innovation while ensuring regulatory clarity and institutional adoption. Expanding Institutional-Grade Custody for Toncoin (TON) Toncoin (TON) has gained significant adoption, particularly within Telegram's ecosystem, as it recently became the exclusive cryptocurrency for non-fiat payments related to the platform's assets and services. Tungsten's FSRA-regulated custody ensures institutional investors and enterprises can securely store Toncoin (TON) with institutional-grade security, compliance oversight, and risk management. Jose Aguinaga, Senior Executive Officer of Tungsten Custody Solutions Ltd, commented: 'Securing regulatory approval to provide custody for Toncoin is a significant milestone for Tungsten and our commitment to offering regulated, institutional-grade custody solutions for a wide range of digital assets. With ADGM emerging as a key hub for blockchain innovation, we are proud to be at the forefront of enabling secure and compliant access to Toncoin for institutional investors and enterprises.' 'We're thrilled to see Tungsten receive regulatory approval from the Abu Dhabi Global Market to provide secure custody for Toncoin,' said Manuel Stotz, President at TON Foundation. 'This approval reflects not only the growing institutional interest in TON, but in blockchain, crypto, and digital assets generally. It also highlights Abu Dhabi's commitment to building a trusted, clear regulatory framework that supports decentralized organizations and champions blockchain innovation. With their deep expertise and unwavering commitment to compliance, Tungsten is the ideal partner for institutions looking to securely store Toncoin.' Enhancing Abu Dhabi's Digital Asset Ecosystem The approval aligns with ADGM's growing role as a global leader in virtual asset regulation, ensuring Toncoin (TON) holders have access to secure, regulated custody services. As more blockchain foundations and institutional investors establish their presence in Abu Dhabi, Tungsten remains committed to providing compliant, secure, and scalable custody solutions. About Tungsten: Tungsten Custody Solutions Ltd is a regulated digital asset custodian headquartered in Abu Dhabi Global Market (ADGM), offering secure and compliant custody solutions for institutional clients. Tungsten's infrastructure ensures institutional-grade security, regulatory compliance, and operational resilience. Tungsten Custody Solutions Ltd is regulated by the ADGM Financial Services Regulatory Authority with Financial Services Permission Number 220129. About The Open Network (TON): The Open Network (TON) is a global, decentralized blockchain community focused on putting crypto in every pocket. By building the Web3 ecosystem in Telegram Messenger, TON's vision is to empower 500 million users to own their digital identity, data, and assets by 2028.
Mid East Info
04-03-2025
- Mid East Info
Tungsten Custody Solutions Secures SOC 2 Type 2 Recertification - Middle East Business News and Information
Abu Dhabi, UAE – 4 March, 2025 – Tungsten Custody Solutions Ltd, a leading regulated digital asset custodian, has successfully retained its SOC 2 Type 2 certification with an Unqualified Opinion from Ernst & Young, one of the world's leading professional services firms. This achievement underscores Tungsten's commitment to the highest standards of security, compliance, and risk management in safeguarding digital assets. The recognition of retaining SOC2 Type 2 builds on the 2024 Continuity Insurance and Risk Global Category shortlisting of Tungsten Custody Solutions in November 2024 and also Tungsten's ISO27001:2022 accreditation, which has also been retained following successful surveillance assessment in December 2024. What This Means for Our Clients The SOC 2 Type 2 certification is a globally recognised audit standard developed by the American Institute of Certified Public Accountants that evaluates an organisation's controls over security, availability, processing integrity, confidentiality, and privacy. Achieving this certification with an 'Unqualified Opinion.' This is the highest level of assurance that demonstrates that Tungsten has implemented and maintained industry-leading security and compliance controls without exception. A Testament to Robust Security & Compliance Jose J. Perez Aguinaga, SEO of Tungsten, commented: 'As a regulated custodian, security and risk management are at the core of everything we do. Retaining SOC 2 Type 2 with an Unqualified Opinion from EY is a testament to our unwavering commitment to providing our clients with the highest level of security and operational excellence in digital asset custody. This milestone reinforces our position as a trusted partner for institutions navigating the digital asset landscape.' Rushikesh Shreshtha, Chief Information Security Officer (CISO) of Tungsten, added: 'Security is the foundation of digital asset custody, and achieving SOC 2 Type 2 certification confirms our ability to meet the strictest security and compliance standards. Our team has worked diligently to establish best-in-class security protocols, risk management frameworks, and operational resilience. This certification is not just a milestone, it's a reflection of our ongoing commitment to securing digital assets in an evolving threat landscape.' Commitment to Institutional-Grade Custody Tungsten continues to lead the industry by maintaining robust internal controls, risk management frameworks, and compliance standards aligned with global regulatory requirements, including FSRA regulations in Abu Dhabi Global Markets (ADGM). This achievement further strengthens Tungsten's reputation as a secure and compliant custody provider, ensuring institutional clients, asset managers, and enterprises can rely on its best-in-class infrastructure for safeguarding their digital assets. Looking Ahead With SOC 2 Type 2 compliance retained, Tungsten remains dedicated to continuous improvement, third-party audits, and innovation in secure digital asset custody. This certification reinforces Tungsten's ongoing mission to set new industry benchmarks in security, risk management, and regulatory compliance.
