BlockFills Completes SOC 2 Type II Examination

BlockFills has announced the successful completion of its System and Organization Controls (SOC) 2 Type II examination, which verifies the effectiveness of the company’s internal operations and data security measures over time.

The SOC 2 Type II examination is governed by the American Institute of Certified Public Accountants (AICPA) and is widely regarded as a benchmark for assessing an organization’s ability to protect data.

The audit evaluates multiple criteria, including security, availability, processing integrity, confidentiality, and privacy. Unlike the Type I audit, which assesses controls at a specific point in time, the Type II audit examines their performance over a sustained period.

“Highest levels of security to protect our clients’ assets and information”

Nick Hammer, CEO of BlockFills, said: “Our SOC 2 audit achievement reinforces our ongoing commitment to maintaining a secure, trustworthy, and robust environment for our clients and within the digital asset industry. We believe in the importance of transparency and implementing the highest levels of security to protect our clients’ assets and information. This certification also contributes to the maturation of the broader crypto market with a benchmark for adherence to best practices.”

With incidents of cyberattacks and data breaches continuing to rise, institutional investors and market participants are increasingly seeking platforms that can guarantee the integrity of their operations. BlockFills’ focus on security includes a range of measures, from stringent onboarding procedures to comprehensive auditing and ongoing upgrades to its infrastructure.

The certification arrives at a time when the digital asset market is expanding rapidly. Institutional adoption of cryptocurrencies and other blockchain-based assets has grown. Platforms like BlockFills are responding to this demand by implementing rigorous security protocols and demonstrating their ability to safeguard client data and assets.

In addition to meeting regulatory expectations, SOC 2 Type II certification provides a competitive edge for BlockFills. By obtaining this independent validation, the company strengthens its appeal to institutional clients who require assurances of operational reliability before committing significant resources to digital assets.

BlockFills launched crypto-to-fiat payment processing service

BlockFills recently launched a comprehensive crypto-to-fiat payment processing service designed for enterprise payments companies and FinTechs. This new service from BlockFills aims to bridge the gap between traditional financial systems and digital assets, providing enterprise payments companies and FinTechs with tools to process transactions between cryptocurrencies and traditional currencies securely and efficiently.

Through API access, BlockFills’ proprietary Vision trading platform, and over-the-counter (OTC) options, clients can access on-ramp and off-ramp services for digital asset transactions at competitive, all-inclusive pricing.

Among the features that distinguish BlockFills’ payment service are its established fiat banking rails, with support for multiple fiat currencies, and same-day settlement capabilities. Clients also benefit from the absence of taker fees, post-trade settlement, and credit facilities to maximize transaction efficiency. These features are backed by industry-leading wallet and security infrastructure, offering clients a streamlined yet secure platform for handling digital and fiat currencies.

Incorporating this service into its existing technology stack allows BlockFills to serve the growing number of companies seeking crypto integration, including Web3 applications, digital wallets, and crypto exchanges. C14, a digital payment processor for crypto wallets and GameFi applications, was among the first companies to pilot this service, citing its seamless integration and operational efficiency as key benefits.

BlockFills’ launch reflects a broader industry trend toward digital asset integration in traditional finance. Recent reports from Global Market Insights forecast that the crypto payment gateway market, valued at $1.2 billion in 2023, will experience a compound annual growth rate of over 15% from 2024 to 2032. The global payments market itself is projected to reach $3 trillion by 2026, further signaling increased convergence between fiat and digital assets.