Amber Group obtains PCI-DSS certification amid cyber threats in crypto and payments

Rick Steves

“Cyber risks and threats are inevitable in a rapidly evolving digital assets and payments landscape, and these threats are becoming increasingly sophisticated as the ecosystem expands.”

Digital asset platform Amber Group has obtained Level 1 Payment Card Industry Data Security Standard (PCI-DSS) certification, founded by five major global credit card companies, namely, Visa, Mastercard, American Express, JCB International and Discover Financial Services.

The certification is one of the most stringent and comprehensive payment security certification standards in the world and is based on key areas and requirements for security management, policies, procedures, network architecture, software design, physical security and other critical protective measures.

Cyber threats becoming increasingly sophisticated

The PCI-DSS certification attained by Amber Group following an audit by independent, privately-owned atsec, strengthens the firm’s position as a platform for global digital asset management and wealth building.

The set of policies and procedures associated with the PSI-DSS are intended to optimize the security of payment transactions spanning credit, debit and cash to protect cardholders against misuse of personal information.

Michael Wu, Chief Executive Officer at Amber Group, said: “Cyber risks and threats are inevitable in a rapidly evolving digital assets and payments landscape, and these threats are becoming increasingly sophisticated as the ecosystem expands. User trust is nevermore pertinent in this day and age – trust is now the most expensive commodity that is central to the success of every transaction and new financial innovation. As such, it is of paramount importance that we continue to uphold the highest compliance standards and that we implement industry best practices to stay ahead of the curve.”

“We are proud of our strategic progress to ensure compliance with global security and regulatory standards, and we remain committed to securing our digital asset platform and wallet infrastructure to facilitate peace of mind and ease for all users”, he added.

Last month, the firm secured comprehensive global insurance coverage protecting digital assets held in its wallet infrastructure on behalf of clients. The digital asset platform’s wallet infrastructure is now covered with direct insurance policy, indirect coverage and insurance-backed Theft Protection.

Earlier this year, Amber acquired Celera Markets Limited in order to conduct relevant regulated activities under the auspices of Type 1, 2, 4, 5 and 9 licenses from the Hong Kong Securities and Futures Commission. In addition, the company’s subsidiary WhaleFin Japan acquired crypto asset exchange DeCurret Inc. in a move that marks the group’s entry into Japan, having acquired a Crypto-Asset Exchange Service Provider (CAESP) registered with Japan Financial Services Agency (FSA).

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