Nexo achieves CSA STAR Certification

• Nexo is on a mission to maximize the value and utility of digital assets.
• The Cloud Security Alliance (CSA) is a leading organization dedicated to defining and promoting best practices for a secure cloud computing environment.
• CSA collaborates with industry experts, associations, governments, and members to provide cloud security-specific research, education, training, certification, events, and products.

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, obtained after the successful SOC 2 Type 2 audit and ISO 27001 standardization, emphasizes Nexo’s dedication to client data security and transparency.

The development is welcome news for Nexo users since 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 although nothing much came from the investigations.

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 strict security measures

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.

Nexo Co-Founder and Managing Partner Antoni Trenchev 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.”

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…