Thursday, December 7, 2023 Releases Proof of Reserves Study, Used Advanced Cryptographic Procedures.

While releasing a proof of reserves study, said it used international audit, tax, and advisory firm Mazars to demonstrate using advanced cryptographic procedures and the availability and backing of customer balances.

It established that the percentage of reserve ratios for each asset class BTC, ETH, USDC, USDT, XRP, DOGE, SHIB, LINK, and MANA range from 101% – 106%. The report offers’s customers additional transparency and reassurance that their In-Scoop Assets are fully reserved. They exist on the blockchains and are under the control of the platform. tweeted that Mazars Group compared the assets held in on-chain addresses proven to be controlled by the digital assets exchange with customer balances through an auditor-overseen live query of a production database as of December 7. believes it’s now easy for their existing users to verify that the platform has a 1:1 reserve of all customer crypto assets deposited on the platform. Users can verify the assets in their accounts are responsibly backed and accessible for App and exchange.

The platform highlighted that the move was to set the highest standard for transparency and accountability. Several crypto exchanges, including and Binance, are trying to reassure customers that funds are safe following the collapse of FTX. But is a popular platform and offers clients a Visa debit card to spend on cryptocurrencies. Blockchain analysis firm Nansen showed that the platform was holding 20% of its reserves last month in the meme coin Shiba Inu.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

Most Popular