Liminal achieves new CryptoCurrency Security Standard certification

US-based wallet infrastructure platform Liminal has achieved a Level 3 Qualified Security Provider (QSP) certification following a comprehensive audit.

A security standard in the crypto space, commonly referred to as CCSS, the Cryptocurrency Security Standard was introduced in 2014 to provide guidance specific to the secure management of cryptos. This standard is currently the go-to standard for any information system that handles and manages crypto wallets as part of its business logic. 

According to financialit.net, by achieving CryptoCurrency Security Standard (CCSS) – Qualified Security Provider (QSP) Level 3 certification, Liminal has become one of the only two digital asset Qualified Service Providers to reach this level at the time of writing. Liminal’s CCSS-QSP Level 3 certification was achieved following a rigorous, audited security review process that verified the platform’s infrastructure, security protocols, and operational processes.  

As part of the certification process, Liminal also had to implement a comprehensive set of security measures that protect user data, funds, and transactions which included Liminal Hot, Warm and Cold Wallets, Liminal Secure Transfer Environment, Liminal Authorization Workflow, Liminal Automated Refill Engine, Liminal EVM Fee Saver Workflow and Liminal Policy Engine. 

Liminal officials cited by financialit.net talked about this milestone achievement and expressed their commitment to providing the highest level of security and compliance for their users. They also emphasised that, by achieving this certification, the company has received a boost in the ‘trust’ factor when it comes to external stakeholders, customers, and regulators. 

IT security consultants in charge of the audit revealed that Liminal has fulfilled every CCSS Level 3 requirement, and that the company went beyond the needed CCSS Level 3 criteria.

More information about CCSS

According to Deloitte, CCSS is designed to augment standard information security practices and to complement existing standards such as ISO 27001, PCI, and not replace them. 

CCSS is divided into three levels of increasing security: 

• An information system that has achieved Level I security has the ability to protect crypto wallets with strong levels of security. 
• A higher level II of CCSS that includes improved levels of security with formalised policies and procedures that are enforced at every step within the respective business processes. 
• In level III of CCSS, multiple actors are required for critical actions. Advanced authentication mechanisms are employed to ensure authenticity of data, and assets are distributed geographically and organisationally. 

Together, these requirements can make crypto wallets more resilient against compromise.