Quantstamp Secures Crypto.com Chain to Drive Faster and Easier Cryptocurrency Payments

Quantstamp Announcements
November 20, 2018

Quantstamp, a Y-combinator backed smart contract security company, is proud to announce we’ve completed an audit of the Crypto.com Chain. Crypto.com, the team behind the MCO Visa Card, a prepaid Visa card that allows users to spend cryptocurrencies easily and receive rewards such as cashback, airport lounge access, and other benefits as they use the card. Crypto.com has recently announced the Crypto.com Chain, a public blockchain focused on facilitating mobile crypto payments. It allows for fast settlement and provides rewards for merchants and consumers who use it to transact.

Along with the Crypto.com wallet app, a digital and fiat currency mobile wallet, the Crypto.com Chain aims to make cryptocurrencies easier for merchants to accept and for customers to spend. Customers receive purchase incentives while merchants enjoy instant settlement and no transaction fees.

“Crypto.com is a major player in the crypto payments space,” notes Richard Ma, CEO of Quantstamp. “The Crypto.com Wallet and MCO Visa Card make it easier to pay with cryptocurrency. We were happy to audit the Crypto.com Chain smart contracts and help them in their mission of faster, easier online payments with lower fees.”

This full service audit was performed over five days by four experienced security engineers from Quantstamp’s auditing team. Using state of the art automated tools to supplement manual processes, we performed an architectural review, unit and functional testing, computer-aided verification, as well as a manual code review. In case vulnerabilities were found, they were communicated to and addressed with the project team. In the end, Quantstamp’s audit resulted in robust token smart contracts with no serious vulnerabilities.

“With the Crypto.com Chain, we are aiming to drive the next step of cryptocurrency payments and drive adoption, not only by simplifying the payments themselves but also by rewarding both the merchants and consumers to use cryptocurrency for mobile and online payments,” said Kris Marszalek, CEO of Crypto.com. “The thorough audit of our token contracts by Quantstamp’s team of experienced security engineers gave us the confidence to roll out this project which we hope will accelerate the mainstream adoption of cryptocurrency payments.”

Auditing the Crypto.com Chain continues Quantstamp’s track record of helping secure projects aiming to improve mainstream adoption of cryptocurrencies and blockchain technology. For more information about Quantstamp’s smart contract security services and products, visit Quantstamp.com

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