Solana’s Marinade Finance Hits Major Milestone: SOC 2 Type 2 Compliance Secured

Solana's liquid staking powerhouse Marinade Finance just leveled up its enterprise cred—passing the grueling SOC 2 Type 2 audit with flying colors.

Why it matters: This isn't just another rubber-stamp certification. SOC 2 Type 2 requires months of real-world operational testing, proving Marinade's protocols can actually walk the security talk.

The compliance trifecta: 1) Bank-grade data protection 2) Uninterrupted system reliability 3) Ironclad smart contract safeguards—all verified by independent auditors.

Between the lines: While TradFi banks burn millions on compliance theater, DeFi's proving security doesn't require mahogany-paneled boardrooms. Marinade's audit cost? Probably less than a Wall Street exec's annual Scotch budget.

What's next: Expect institutional capital to flow faster into Solana's staking ecosystem now that Marinade's cleared this regulatory hurdle. The race for compliant DeFi infrastructure just got hotter.

Why is this important?

The SOC 2 Type 2 is a cybersecurity compliance standard developed by the American Institute of Certified Public Accountants. It’s a compliance standard that goes beyond the checks on an organization’s security controls at a specific time provided for by Type 1 certification.

Marinade Finance achieved Type I compliance earlier this year.

As for SOC 2 Type 2, the audit seeks to evaluate the given organization’s operational effectiveness around the controls in question over an extended period. Mainly, this takes into account a period of 6-12 months.

“Achieving SOC 2 Type 2 as a liquid staking protocol required us to demonstrate operational excellence across a much more complex infrastructure than centralized platforms,” said Hadley Stern, chief compliance officer at Marinade. “This certification proves that blockchain protocols can meet the highest institutional security standards without compromising on decentralization.”

In this case, achieving SOC 2 Type 2 certification puts Marinade on the map as a potentially great platform for institutional clients. The main take is the “operational security and compliance readiness”.

Certification is great for various organizational milestones, including institutional partnerships and regulatory approval processes.

Marinade eyes new Solana staking market

According to Marinade, getting SOC 2 Type 2 “clears the path” for the protocol to become the main staking platform for the highly anticipated spot Solana exchange-traded funds. 

“This compliance achievement is particularly significant as Marinade serves as the exclusive staking provider for the upcoming U.S. Solana ETF applications through our Marinade Select institutional platform. ETF providers require demonstrated operational security and regulatory readiness — exactly what SOC 2 Type 2 compliance provides,” the platform wrote.

Several Solana ETF applications are before the SEC, with experts recently noting high chances of approval in coming months. Firms that have picked Marinade for staking solutions include Zodia Custody, BitGo and Canary Capital.