Gemini crypto exchange and custodian has announced that it has obtained a new security qualification.

According to an April 21 announcement, the company informed the public that it has completed a Service Organization Control (SOC) 1 Type 1 examination conducted by auditing giant, Deloitte. It claims to be the world’s first digital currency custodian and exchange company to demonstrate this high-level of financial operations compliance.

Completing an SOC 1 Type 1 examination means that Gemini’s financial operations and customer reporting controls designed to mitigate the risk of significant errors are valid. According to the company, achieving this milestone means its customers can confidently conduct and subsequently attest to their business on the platform.

According to Yusuf Hussain, Head of Risk at Gemini, security is one of the company’s core values. He said they are looking forward to earning and maintaining the trust of its customers. Hussain claimed the achievement of this milestone is yet another proof point that Gemini continues to strive towards achieving the highest standards of financial operations compliance for the benefit of its customers.

He added that SOC 1 is an internationally recognized achievement in a traditional financial services industry. He said the SOC 1 Type 1 examination is vital, particularly to the company’s exchange operations, which execute a large volume of complex financial transactions. According to him, the examination validates the design and implementation of those operations and the integrity of their corresponding reports.

Earlier this year, the company passed a second level (SOC 2 Type 2) security examination which was also conducted by Deloitte. Hussain said at that time that passing the SOC 2 Type 2 examination meant that Gemini’s system controls have been operating effectively over a period of time. In January 2019, the company also achieved the SOC 2 Type 1 examination which was completed by Deloitte.