SAN FRANCISCO–(BUSINESS WIRE)–#blockhain—Toku and Quantstamp, two leading companies serving the web3 industry, are excited to announce a strategic partnership that brings security audits and compensation tax audits together as part of a bundled service to provide blockchain companies with seamless support to power their businesses.
As the web3 industry continues to grow, regulatory tax scrutiny and ever-present security threats continue to rise. Toku and Quantstamp are teaming up to help alleviate these specific pain points that many web3 companies face today. Through this partnership, these two leading companies will provide organizations connected to blockchain a streamlined solution that offers them both enhanced security protection and the wall-to-wall compliance capabilities needed as this industry expands. Specifically, that will include a two-step process that includes a comprehensive code review and a tax review for clients at the outset of initial engagements. Unifying these two critical services puts Toku and Quantstamp at the forefront in an effort to offer companies the tools needed to protect key information, adhere to all relevant regulatory standards, and ultimately adapt to how the future of work will unfold.
Quantstamp is a pioneer in blockchain security, having secured over $200B worth of digital assets for over 250 clients including major industry players such as Ethereum 2.0, Compound, Lido, and Polygon as well as major brands like Visa and Toyota. Through its core business offering, smart contract audits, Quantstamp reviews the codebase of blockchain projects to find any potential vulnerabilities in their code. Quantstamp also offers other services including its recently launched Economic Exploit Analysis service that detects flash loan attacks before they happen. Quantstamp strives to create products and services that will make the web3 space more secure for all.
“We’re thrilled to establish this partnership with Toku to provide web3 companies with a streamlined solution to navigate security and compliance challenges,” said Richard Ma, Founder and CEO of Quantstamp. “Building in a nascent industry comes with unique challenges, and companies need dependable solutions, especially around security, laws, and regulations. This bundled service offering is only the beginning and we look forward to seeing what will come from this partnership with Toku.”
Toku is the first comprehensive and global solution for token compensation, token grants and token tax compliance. Their products enable 100% tax compliance on all token based compensation in over 100 countries globally.
Toku provides unmatched legal and tax support to grant and administer global team’s tokens. Toku navigates this across the lifecycle — from easy to use token grant award templates through tracking vesting to managing tax withholdings. Toku understands every grant structure — Token Purchase Agreements, Restricted Token Awards, Restricted Token Units, Token Options, Token Appreciation Rights, and phantom tokens.
Toku’s customers include Protocol Labs, dYdX Foundation, Mina Foundation, Hedera, Gnosis, Safe, and many more.
“We couldn’t be more excited to embark on this partnership with Quantstamp and expand our ability to ensure all organizations, from DAOs to traditional companies, adhere to the complex laws and regulations around token compensation,” said Ken O’Friel, Toku’s Co-Founder and CEO. “Both security concerns and compliance concerns are key challenges that companies operating today need to address and, through this partnership, we will be able to provide a streamlined solution that makes these complex issues easy and straightforward for them to manage.”
Together through this partnership, Toku and Quantstamp hope to provide web3 companies with tools and services that will help them succeed at every stage.
To learn more about this partnership, contact us at [email protected] or [email protected]
About Toku
Toku is the first comprehensive and global solution for token compensation, token grants and token tax compliance. Their products enable 100% tax compliance on all token based compensation in over 100 countries globally. Their customers include companies like Mina Foundation, Hedera Hashgraph, dYdX Foundation, Gnosis, Protocol Labs, Filecoin Foundation, Safe and many more. To learn more, visit toku.com
About Quantstamp
Quantstamp is a global leader in blockchain security, on a mission to secure the future of web3. Founded in 2017, the team has honed their expertise through hundreds of audits and worked with some of the top projects in the industry including Maker, Compound, Polygon, Arbitrum, Sandbox, and many more. To date, Quantstamp has performed 600+ audits and secured over $200 billion in digital asset risk from hackers. In addition to providing an array of security services, Quantstamp facilitates the growth and longevity of the web3 space through strategic investments and acting as a trusted advisor to help projects scale. To learn more head to our website Quantstamp.com or follow us on Twitter @Quantstamp
Contacts
Toku: Jeremy Adler, [email protected]
Quantstamp: Jessica Graber, [email protected]
Source: https://thenewscrypto.com/toku-and-quantstamp-partner-to-enhance-security-and-payroll-practices-in-web3/