Amdax: first crypto service provider in the EU to pass the ISAE 3000 Type 2 audit
Amdax is the first crypto service provider in the European Union to successfully complete the ISAE 3000 Type 2 audit. In 2023, the company already obtained the Type 1 audit, which confirmed that the internal control measures were correctly implemented on 1 December 2023. The new audit and assurance report now demonstrate that these same measures have been demonstrably effective within Amdax's daily operations over a longer consecutive period.
The audit was conducted by the renowned accounting firm Grant Thornton for the period from 1 August 2024 to 31 January 2025. The scope of the audit included:
- Custody
- Trading via liquidity providers
- Withdrawal and deposit of euro balances
- Withdrawal and deposit of crypto assets
- Reconciliation of balances
- Settlement risk management
- General IT control measures, including:
- Backup and recovery of data and IT systems
- Access rights management
- Change and incident management
- Third-party risk management
‘We are proud to present Amdax's ISAE 3000 Type 2 report,’ says Lucas Wensing, CEO of Amdax. "This is an important milestone that underlines our ongoing commitment to trust, security and leadership in the field of regulation. As the first crypto service provider registered with De Nederlandsche Bank (DNB), Amdax has set high standards for compliance and reliability from the outset. This Type 2 audit is independent confirmation that our internal control measures are carefully designed and have been demonstrably effective over a long period of time.
Ahead of regulation
With the arrival of MiCAR (Markets in Crypto-Assets Regulation) and DORA (Digital Operational Resilience Act), independent assessment of internal processes is becoming increasingly important. With this achievement, Amdax underlines that its risk management and compliance framework is future-proof.
‘This audit requires more than good intentions on paper,’ says Sanne de Gier, Chief Legal and Compliance Officer at Amdax. ‘It shows that our control measures are structurally and demonstrably effective in our daily operations. That is precisely the level of certainty required by European regulations.’
The ISAE 3000 Type 2 audit places Amdax at the forefront of a sector preparing for increasing regulation. Independent testing such as this is an important tool for demonstrating internal control within a crypto market that is becoming increasingly professional.
