Copenhagen, 15 July 2022 – ARYZE, a blockchain fintech company specializing in digital payments solutions, has entered into a strategic partnership with Banshie, a cybersecurity business firm providing blockchain and smart contract security services. Under the terms of the agreement, Banshie will be responsible for performing comprehensive audits of the smart contracts behind Digital Cash by ARYZE, ensuring the security of its infrastructure for the upcoming public launch later this year.
The partnership with Banshie is a major milestone for ARYZE and its vision for secure, auditable Digital Cash systems based on real-world assets. The ARYZE protocol is based on the latest technology that can contain undiscovered vulnerabilities, which will be mitigated through the newly established partnership and security analysis of smart contracts.
To ensure that the ARYZE platform can perform seamlessly, a white-box security audit wash is conducted where details about the architecture and components will be available to Banshie for transparency and time savings. The audit will ensure that critical components are specified and implemented securely, and Banshie will provide recommendations for security-related improvements to the code base, as well as validate that the implemented code matches the architecture as defined.
Briefing on the importance of their new partnership with Banshie, Business Development Manager Jodi Usama Husain said:
“Smart Contract audits are important for protecting users who interact with our products. By identifying potential security vulnerabilities, the audit can help to prevent losses due to hacks or exploits. Security will always be our top priority as DeFi platforms rely on multiple complex smart contracts, which is why a security audit is vital for a DeFi project to get off the ground.“Jodi Usama Husain, IT & Business Development Manager at ARYZE
This partnership will ensure that ARYZE meets the highest standards for security and compliance for the public launch of their eEUR stablecoin in the upcoming months. The company is bridging traditional value and digital currencies by creating Digital Cash, a series of stablecoins backed by a full-reserve banking model that will help eliminate bank runs, remove credit risk, and create a secure alternative to cash. As programmable money, it can be used across different blockchains such as the Ethereum and Binance chain. ARYZE’s Digital Cash is designed to be secure, scalable, and handle high transaction volume without compromising security or stability.
This is a strong step forward in the development of the ARYZE protocol and a move to ensure security is at the forefront of the team’s focus. Banshie was selected as the first security partner because it has already proven itself as an innovative company with a strong focus on security and transparency — two aspects key to any blockchain project looking to build trust among users and regulators alike.
ARYZE is a Copenhagen-based fintech company developing services for the fourth industrial revolution, specifically related to digital assets and programmable money. With a mission of making dumb money smart, it aims to solve some of the biggest problems within the financial sphere, such as lack of inclusiveness, money laundering, and lack of transparency. ARYZE has recently entered private beta with eEUR, a full-reserve euro stablecoin, which will be followed by eUSD, eGBP, eDKK, and many more. ARYZE is working with key partners such as IBM, Episode Six, Grant Thornton, and Onfido to ensure they deliver secure, inclusive, and modern fintech services to everyone.
Learn more about ARYZE here: www.aryze.io
Banshie is a leading cybersecurity business firm with crucial expertise that specializes in blockchain and smart contract security. Their distinctive focus on security is setting new code review and audit standards. Banshie provides a wide range of services to identify weaknesses, including red teams, penetration testing, assumed breach, attack and detection, and cloud security assessments. With their hacker mindset, they also provide security code audits to identify vulnerabilities in smart contracts on the Ethereum and Solana blockchains, as well as full-stack audits of entire dApps, including on-chain, backend, and web3 frontends.
Learn more about Banshie here: www.banshie.com