Popular crypto exchange Binance today announced that it’s now officially accredited by the International Organization for Standardization, as a universally recognized information security management system.
The accreditation—ISO 27001—is recognized globally as a benchmark for good security practice. It also supports compliance with key European Union legislation, such as data protection law, EU GDPR, and NIS cybersecurity regulations. It will certainly ease the way for Binance to begin operations in a host of new jurisdictions, particularly in Europe.
Notably, the award was certified by not one but two world-renowned international accreditation bodies, Norway’s DNV and the U.K.’s UKAS.
DNV, is the world’s largest accredited registrar and UKAS is the sole national accreditation body recognized by the British government. It’s the first time either body has certified a crypto company, according to Binance.
Setting higher #SAFU standards for our industry. https://t.co/jZv85por0R
— CZ Binance (@cz_binance) September 24, 2019
“Security has always been the utmost priority for Binance and our users, and we are honored that Binance’s security management is recognized by the respected DNV and UKAS,” said Binance CEO, Changpeng Zhao in a statement. “Obtaining the ISO certification is one significant aspect of our security commitment to the industry and our community.”
“SAFU” is a major consideration for Binance. In crypto-land, the term has become synonymous with “safe.” It was first used on YouTube when a YouTuber named Bizonnaci made a parody video using a tweet Zhao had sent in March 2018 that assured users that “Funds are safe”.
With its shiny new ISO, for which it was examined across 114 criteria (including security policy, asset management, operation security, information systems acquisition, development, and maintenance,) Binance will be hoping that it’s well on the way to nailing SAFU, meme and all.