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PwC Switzerland hires team behind smart contract auditing startup

Yilun Cheng

The team behind blockchain startup ChainSecurity has joined PwC Switzerland as the professional services firm looks to offer smart contract auditing.

Based in Zurich, ChainSecurity was founded in 2017 as a spin-off of ETH Zurich, a research lab that focuses on blockchain security. The firm offers technical audits for smart contracts and helps clients identify weak points in their projects. 

According to PwC’s Jan. 5 press release, ChainSecurity has worked with over 75 blockchain companies, exchanges, and banks. Its partnership with PwC will likely allow the firm to scale its operation in Europe. 

“As part of PwC Switzerland, the ChainSecurity team will concentrate on accelerating PwC Switzerland’s blockchain audits, including technical audits of smart contracts and blockchain platforms and risk assurance services for clients holding crypto investments,” said Andreas Eschbach, partner and risk assurance leader for PwC Switzerland and Europe, in a press statement.

In Nov. 2019, Switzerland’s Federal Council published a report outlining the legal framework for blockchain and DLT in the financial sector. In the report, the agency emphasized Switzerland’s intention to establish itself as a leader in the area of fintech and DLT.