Nexo, one of the best cryptocurrency apps for beginners, has achieved the Cloud Security Alliance’s Security, Trust & Assurance Registry (STAR) Level 1 Certification, strengthening its commitment to cloud infrastructure security. This certification was obtained after a successful SOC 2 Type 2 audit and ISO 27001 standardization, and emphasizes Nexo’s dedication to client data security and transparency. The development is welcome news for Nexo users, as the firm paid $45 million as a settlement with the US Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) in January 2023. There were also money laundering claims that led to NEXO offices in Bulgaria being raided by authorities. The CSA STAR certification is recognized in the tech industry and is utilized by companies like AWS, Google Maps, and VMWare. It involves a rigorous self-assessment process followed by third-party validation using the CSA Cloud Controls Matrix (CCM) to assess a company’s security practices. Nexo’s verification, now publicly available, demonstrated its strict security measures in line with CSA’s highest guidelines, showcasing its commitment to safeguarding customer data and operations. By obtaining the CSA STAR Level 1 certification and openly sharing its security measures, Nexo aims to emphasize its dedication to security, compliance, and transparency. Jim Reavis, CEO and co-founder of the Cloud Security Alliance, commended Nexo’s commitment to cloud service security and transparency, saying, “We commend Nexo on their engagement with CSA’s STAR registry and journey towards customer security.” Nexo Co-Founder and Managing Partner Antoni Trenchev also stated that “as a company using cloud services, we are determined to uphold the highest security standards in safeguarding client data with robust, transparent frameworks.” Nexo’s dedication to security, compliance, and transparency is evident in its stringent security measures infrastructure. This commitment inspires the company to continuously invest in instilling confidence and trust in its clients. Nexo’s ambition is to continue enhancing security and transparency through more partnerships and third-party validations. Nexo, one of the best cryptocurrency apps for beginners, has achieved the Cloud Security Alliance’s Security, Trust & Assurance Registry (STAR) Level 1 Certification, strengthening its commitment to cloud infrastructure security. This certification was obtained after a successful SOC 2 Type 2 audit and ISO 27001 standardization, and emphasizes Nexo’s dedication to client data security and transparency. The development is welcome news for Nexo users, as the firm paid $45 million as a settlement with the US Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) in January 2023. The CSA STAR certification is recognized in the tech industry and is utilized by companies like AWS, Google Maps, and VMWare. It involves a rigorous self-assessment process followed by third-party validation using the CSA Cloud Controls Matrix (CCM) to assess a company’s security practices. Nexo’s verification, now publicly available, demonstrated its strict security measures in line with CSA’s highest guidelines, showcasing its commitment to safeguarding customer data and operations. Jim Reavis, CEO and co-founder of the Cloud Security Alliance, commended Nexo’s commitment to cloud service security and transparency, saying, “We commend Nexo on their engagement with CSA’s STAR registry and journey towards customer security.” Nexo Co-Founder and Managing Partner Antoni Trenchev also stated that “as a company using cloud services, we are determined to uphold the highest security standards in safeguarding client data with robust, transparent frameworks.” Nexo’s dedication to security, compliance, and transparency is evident in its stringent security measures infrastructure. This commitment inspires the company to continuously invest in instilling confidence and trust in its clients. Nexo’s ambition is to continue enhancing security and transparency through more partnerships and third-party validations.

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Information	Details
Geography	Europe
Countries	🇧🇬 🇺🇸
Sentiment	positive
Relevance Score	9
People	Antoni Trenchev, Jim Reavis
Companies	US Securities and Exchange Commission (SEC), AWS, VMWare., Cloud Security Alliance (CSA), Google Maps, North American Securities Administrators Association (NASAA)
Currencies	None
Securities	None