Scryb Inc. reported on the signing of a software licence agreement for Cybeats cybersecurity platform. The contract is with a large blockchain-based cryptocurrency exchange for Cybeats SBOM Studio enterprise product suite. The software licence entails an annual subscription with unlimited users for the software supply chain risk management product suite, SBOM Studio.

The contract represents the first commercial licence for SBOM Studio, which offers valuable software security solutions to manage vulnerabilities and mitigate cybersecurity risks across an enterprise. The Client is a regulated trading platform built on blockchain that leverages decentralized finance and aims to service institutions. The Client's platform recorded a trading volume on its exchange of over USD 2 billion in a single day.

Cybeats won a competitive bid for the contract, which followed a fourth-month sales cycle that included technical product demos, procurement process, and a software evaluation trial deployment which commenced in February 2021.