Solana's Marinade Finance Hits Key Security Milestone With SOC 2 Type 2 Compliance
Introduction: A Major Leap in Crypto Security & Institutional Readiness
Marinade Finance, a leading liquid staking protocol on Solana, has achieved SOC 2 Type 2 compliance, marking a significant milestone in blockchain security and institutional adoption. After months of rigorous auditing by global accounting firm BDO, Marinade has become one of the first staking protocols to meet this gold-standard certification.
This achievement underscores Marinade’s operational excellence and positions it as a critical infrastructure provider for upcoming Solana exchange-traded funds (ETFs) in the U.S. The certification also reinforces the broader narrative that decentralized protocols can meet stringent institutional security standards without sacrificing decentralization.
In this article, we explore:
- What SOC 2 Type 2 compliance means for Marinade and the crypto industry
- How this milestone enhances institutional trust in DeFi
- The implications for Solana ETFs and future staking demand
- Comparisons with other SOC 2-compliant crypto firms
What Is SOC 2 Type 2 Compliance?
SOC 2 (Service Organization Control 2) is a cybersecurity compliance framework developed by the American Institute of Certified Public Accountants (AICPA). It evaluates an organization’s controls related to security, availability, processing integrity, confidentiality, and privacy.
There are two types of SOC 2 audits:
- Type 1: Assesses controls at a single point in time.
- Type 2: Evaluates operational effectiveness over an extended period (typically 6–12 months).
Marinade had previously achieved SOC 2 Type 1 compliance earlier in 2024, but the Type 2 certification is far more rigorous, requiring sustained adherence to security best practices.
Why This Matters for Crypto & DeFi
For decentralized finance (DeFi) protocols, SOC 2 compliance is rare due to the complexity of maintaining security across smart contracts, validator networks, and user access controls. Marinade’s success demonstrates that blockchain-based platforms can meet enterprise-grade security expectations while remaining permissionless and decentralized.
Hadley Stern, Chief Compliance Officer at Marinade, emphasized:
“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. This certification proves that blockchain protocols can meet the highest institutional security standards without compromising on decentralization.”
How Marinade Finance Achieved SOC 2 Type 2 Compliance
The audit process conducted by BDO scrutinized multiple aspects of Marinade’s operations, including:
- Security controls (smart contract safeguards, key management)
- Access management systems (multi-signature wallets, admin privileges)
- Staking infrastructure resilience (validator performance, slashing prevention)
- Data confidentiality & privacy protections (user data handling)
This thorough examination ensures that Marinade’s systems are robust enough to handle institutional-grade demands—a necessity for ETF providers and regulated financial entities.
Comparison With Other SOC 2-Compliant Crypto Firms
Marinade joins a small group of crypto-native firms that have secured this certification:
- Custodia Bank (January 2025) – A crypto-friendly bank that achieved SOC 2 Type 2 compliance.
- BitGo & Coinbase Custody – Both have long-held SOC certifications due to their institutional custody services.
Unlike these centralized entities, Marinade operates as a decentralized protocol, making its compliance even more noteworthy.
Marinade’s Role in Upcoming Solana ETFs
One of the most significant implications of this compliance milestone is its impact on the anticipated Solana ETFs. Several asset managers—including those partnering with Zodia Custody, BitGo, and Canary Capital—have selected Marinade as their exclusive staking provider via Marinade Select, an institutional-grade platform.
Why ETF Providers Need SOC 2 Compliance
ETF issuers must adhere to strict regulatory requirements concerning asset custody and operational security. By achieving SOC 2 Type 2 compliance, Marinade has positioned itself as a trusted partner capable of meeting these demands. The protocol stated:
“This compliance achievement is particularly significant as Marinade serves as the exclusive staking provider for the upcoming U.S. Solana ETF applications… ETF providers require demonstrated operational security and regulatory readiness—exactly what SOC 2 Type 2 compliance provides.”
With multiple Solana ETF filings under SEC review, analysts suggest that approval could come within months—further validating Marinade’s strategic move.
Broader Implications for Solana & Liquid Staking Adoption
Beyond ETFs, Marinade’s milestone has several key implications:
- Institutional Participation in DeFi: More traditional finance players may now consider decentralized staking solutions due to enhanced trust signals like SOC 2 compliance.
- Competitive Edge Over Rival Protocols: While other liquid staking providers (e.g., Lido Finance, Jito) dominate Ethereum and Solana, Marinade now holds a unique advantage in regulatory readiness.
- Increased SOL Staking Demand: If Solana ETFs gain approval, demand for liquid staking tokens (LSTs) like mSOL could surge as institutions seek yield-generating exposure.
Conclusion: A New Benchmark for DeFi Security & Institutional Adoption
Marinade Finance’s SOC 2 Type 2 compliance sets a new standard for decentralized protocols aiming to bridge the gap between DeFi and traditional finance. By proving that operational excellence and decentralization can coexist, Marinade has strengthened its position as a leading infrastructure provider for Solana’s growing ecosystem.
What to Watch Next:
- SEC decisions on Solana ETFs – Approvals could trigger major inflows into SOL staking via Marinade.
- Expansion of Marinade Select – More institutional partnerships may follow given its compliance status.
- Competitor responses – Will other DeFi protocols pursue similar certifications?
For now, Marinade’s achievement marks a pivotal moment—not just for Solana but for the broader blockchain industry’s maturation into regulated financial markets.