CoolBitX reaffirms its commitment to upholding international best practices in data security and compliance with industry gold standard certifcation
Taipei, Taiwan — 20 April 2021
Blockchain security firm CoolBitX today announced that its Sygna Bridge crypto compliance solution has been awarded the ISO/IEC 27001 certification after a rigorous audit process, conducted by SGS (Taiwan), a world-leading certification company.
With this achievement, Sygna Bridge has become the first FATF Travel Rule compliance solution provider for crypto assets to be certified in information security.
Sygna Bridge helps virtual asset service providers (VASPs) meet anti-money laundering (AML) and combating the financing of terrorism (CFT) obligations in accordance with FATF’s Recommendation 16 “Travel Rule” and other digital asset regulations.
Widely touted as the industry’s golden standard for cybersecurity, the ISO 27001 is a globally recognized standard created by the International Organization for Standardization (ISO) for Information Security Management System (ISMS).
First FATF Travel Rule Solution to receive ISO/IEC 27001 Certification
By being the first-ever FATF Travel Rule compliance solution provider for crypto assets to receive this certificate, CoolBitX and further reinforces that Sygna Bridge’s security management program is comprehensive and follows leading practices.
This marks a significant milestone for the crypto industry—not only does this offer VASPs with a secure, user-friendly and compliant platform to comply with regulatory requirements set forth by FATF, it strengthens the broader compliance ecosystem and fosters wider institutional adoption.
Michael Ou, Founder and CEO of CoolBitX, said:
“As a global blockchain security company working with some of the world’s largest financial institutions, we are committed to upholding international best practices, particularly when it comes to cybersecurity standards.
Receiving the ISO 27001 certification not only reflects our continuous dedication towards service excellence, but it also reaffirms our relentless prioritization of security management as well as our transparent approach to information security.”
What is ISO/IEC 27001?
The ISO 27001 is an international standard created by the International Organization for Standardization (ISO) to mandate numerous controls for the establishment and maintenance of an ISMS, requiring organizations to have established methodologies and frameworks in place for the identification, management, minimization of risks to the security of information in order to be awarded the certification.
ISO 27001 certification is highly prized in the Information Technology (IT) and Financial Technology (FinTech) sectors as it shows that a company meets the highest data security standards.
Sygna Bridge underwent a rigorous audit process to achieve the certification, which was conducted by an independent and accredited third-party security auditor.
What is SGS Taiwan?
Standard Global Services (SGS) is an industry-leading inspection, verification, testing, and certification company. Based in Switzerland and with laboratories worldwide, SGS issues certificates that a company’s products, processes, systems, or services are compliant with national and international standards and regulations. Its Taiwan branch conducted the certification of Sygna Bridge.
Why Sygna Bridge adopted ISO/IEC 27001
As a global blockchain security company working with some of the world’s largest VASPs, CoolBitX understands the importance of data protection and compliance, and is committed to upholding international best practices to safeguard our clients’ interests.
The new certification not only reinforces Sygna Bridge’s industry-leading cybersecurity standards, but also reflects the company’s ongoing efforts to deliver secure and user-friendly software products for clients.
This is a major milestone in the crypto regulation space as data privacy and security are two of the most pressing areas for VASPs to preserve when selecting a suitable solution.
VASPs that adopt Sygna Bridge and thereby join its Sygna Alliance of compliant VASPs can be assured of CoolBitX’s prioritization of security management as well as its transparent approach to information security — all while complying with the respective national regulatory requirements (Korea in particular) set forth by the FATF Recommendation 16.
Sygna Alliance Comments
Jack Park, CEO of Cashierest, said:
“Our heartiest congratulations to CoolBitX on their achievement of the ISO/IEC 27001 certification, the most stringent certification for information security control. We are excited to partner with CoolBitX to build a trustable cryptocurrency ecosystem.”
“Sygna Bridge is the easiest solution for VASPs to comply with the FATF Travel Rule. With the acquisition of ISO/IEC 27001, I believe that the higher security/information protection system certification accredited by international organizations has brought us closer to the vision of a world standard Travel Rule solution.”
El Lee, Co-Founder and COO of Onchain Custodian, said:
“We are glad to partner with CoolBitX to be FATF Travel Rule compliant. Congratulations to the firm for clinching the ISO/IEC 27001 certification, after a rigorous audit process, conducted by SGS.”
CoolBitX Ltd. (CBX) is an international blockchain security company building the next-generation infrastructure necessary to maximize digital asset adoption. Founded in 2014 by Michael Ou and backed by SBI Holdings, CoolBitX provides solutions for a rapidly-changing blockchain industry in order to foster the mass adoption of virtual assets through its two product lines: CoolWallet S and Sygna. CoolWallet S is a credit card-sized hardware wallet that allows for Bluetooth-enabled pairing with users’ mobile phones. The Sygna line of regulatory compliance products are tailored toward Virtual Asset Service Providers (VASPs), simplifying the compliance efforts of VASPs through the use of effective and secure technology. For more information on CoolBitX, visit https://coolbitx.com/.
About Sygna Bridge
Sygna Bridge is a user-friendly, and secure data exchange compliance solution that allows Virtual Asset Service Providers (VASPs) to comply with data exchange regulation. For VASPs licensed or registered in any of the 200 global jurisdictions committed to FATF Recommendations, Sygna Bridge is a first-to-market solution that simplifies the complex and labor-intensive task of meeting the “travel rule” requirements as defined in FATF Recommendation 16. As a testament to meeting the highest level of information security, Sygna Bridge has achieved the ISO/IEC 27001 certification, a globally recognised standard for Information Security Management System (ISMS) in April 2021. For more information on Sygna, visit https://sygna.io/ and for more information on CoolBitX, visit https://coolbitx.com/.