13 November 2019; Zug, Switzerland – Bitcoin Suisse is pleased to announce that the Bitcoin Suisse Vault, its institutional-grade solution for crypto asset custody has successfully completed a series of independent audits including ISAE 3402 reporting. This is the second round of audits, which the Bitcoin Suisse Vault has undergone, after reviews were successfully conducted in 2018.
The Bitcoin Suisse Vault is the proprietary custody solution for crypto assets of the Bitcoin Suisse Group*. As part of its ongoing commitment to quality and security, the technology and processes involved in the Bitcoin Suisse Vault solution were audited by three renowned audit and technology firms: An ISAE 3402 Type 1 audit, covering key generation and management, transaction and authorization flow as well as change and business continuity management, was carried out by PwC**. An additional ISAE 3402 Type 2 report was issued by Grant Thornton covering key management processes***. A code review was conducted by Zühlke. The Bitcoin Suisse Vault stores crypto assets in excess of $1 billion in a secure, fully redundant cold storage solution.
This latest round of audits for the Bitcoin Suisse Vault comes as the company continues to further expand its service offering in the institutional space. Bitcoin Suisse partnered last month with Amun AG to provide crypto asset storage for the Amun Bitcoin Suisse BTC/ETH Exchange-Traded Product – the first CHF-denominated ETP with Swiss-based asset storage to be traded on the SIX Swiss Exchange.
Bitcoin Suisse also applied for a Swiss banking and securities dealer license in July of this year.
*The Bitcoin Suisse Vault is operated by Swiss Crypto Vault AG, a 100%-owned subsidiary of Bitcoin Suisse AG and part of the Bitcoin Suisse Group of companies
**PricewaterhouseCoopers AG (PwC) issued an ISAE 3401 Type 1 independent assurance report on the hyper secure crypto asset storage solution of Swiss Crypto Vault AG
***Grant Thornton issued an ISAE 3402 Type 2 independent assurance report on the key generation and distribution at Bitcoin Suisse AG in relation to the Bitcoin Suisse Vault
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