The Quantstamp & Toku Partnership: Enhancing Security and Compliance for Web3 Enterprises
Toku and Quantstamp, two leading web3 firms, have joined forces in a strategic agreement to provide blockchain enterprises with comprehensive support. This partnership aims to combine security audits and compensation tax audits into a bundled service, offering seamless assistance to businesses in the blockchain ecosystem.
The Importance of Security and Compliance in the Web3 Sector
As the web3 sector continues to expand, regulatory tax scrutiny and security threats become increasingly prevalent. Toku and Quantstamp recognize these pain points faced by many web3 organizations and are collaborating to address them. By leveraging their expertise, these industry leaders will offer blockchain-connected firms a streamlined solution that ensures enhanced security protection and compliance capabilities.
Quantstamp’s Contribution to the Partnership
Quantstamp is a pioneer in blockchain security, having safeguarded over $200 billion in digital assets for numerous clients, including Ethereum 2.0, Compound, Visa, and Toyota. The company specializes in smart contract audits, analyzing blockchain projects’ codebase to identify vulnerabilities. Quantstamp also offers additional services such as Economic Exploit Analysis, which detects potential flash loan attacks before they occur.
Auditing Engineer Zeeshan Meghji (@MeghjiZeeshan) explains the root cause of the Cypher hack
Check out the full roundup to learn about August’s other big hacks including Exactly Protocol, Zunami Protocol & more https://t.co/o6fcjtNbpi pic.twitter.com/1m9YbYF4Wt
— Quantstamp (@Quantstamp) September 27, 2023
Richard Ma, Founder and CEO of Quantstamp, expressed excitement about the partnership with Toku, highlighting the need for dependable security and compliance solutions in the nascent web3 industry. Ma emphasized that this bundled service offering is just the beginning, and he looks forward to further collaboration with Toku.
About Toku: Revolutionizing Token Remuneration and Compliance
Toku is the world’s first all-in-one solution for token remuneration, token grants, and token tax compliance. Their systems enable 100% tax compliance on token-based payments in over 100 countries worldwide. Toku provides comprehensive legal and tax support for tokens throughout their lifecycle, covering various grant structures and ensuring adherence to complex laws and regulations.
We are excited to officially unveil @usetoku and announce our $20m in funding from a consortium led by @blockchaincap with @protocollabs, @gmjplol, @OrangeDAOxyz, @Orrick, @hi_Reverie, @Quantstamp, and @NextWebCapital
Read the full story! https://t.co/SLXwMNbSmn pic.twitter.com/ylhVpbhCiR
— Toku (@usetoku) March 8, 2023
More About The Quantstamp & Toku Partnership
Toku’s Co-Founder and CEO, Ken O’Friel, expressed enthusiasm for the partnership with Quantstamp. He emphasized the importance of addressing security and compliance challenges faced by organizations operating in today’s landscape. Through this collaboration, Toku and Quantstamp aim to provide a streamlined solution that simplifies these complex issues for enterprises.
The partnership between Toku and Quantstamp aims to equip web3 enterprises with the necessary tools and services to thrive in their development journey.
Hot Take: Revolutionizing Security in the Web3 Space
The strategic alliance between Toku and Quantstamp represents a significant milestone in the web3 sector. By combining their expertise in security audits and compensation tax audits, these industry leaders are paving the way for enhanced security and compliance capabilities for blockchain-connected firms. This partnership aims to address the specific pain points faced by web3 organizations, enabling them to protect critical information, meet regulatory standards, and adapt to the evolving future of work. With Quantstamp’s track record in blockchain security and Toku’s all-in-one token remuneration solution, this collaboration holds great promise for the safety and success of web3 enterprises.
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