Appleby, a leading international law firm, recently became the first to accept payment for its legal services in GBPT.

“Law firms are traditionally seen as very conservative businesses, but Appleby, which has a multi-disciplinary global technology and innovation group, is very much at the forefront of technology and innovation,” said Garry Manley, corporate partner in Appleby’s Isle of Man office. “This is demonstrated by Appleby being the only Isle of Man law firm to be ranked in the Chambers FinTech Legal rankings. GBPT enables our invoices to be settled in real-time with the assurance of being fully cash-backed with real-time proof of reserve and monthly attestations from a Big Four accountancy firm.”

“Given the large number and variety of digital currencies in the market, accepting payment in a digital currency requires an in-depth understanding of the nature of each currency. Appleby always gives significant consideration to the digital currencies it might accept, and with GBPT being a stablecoin issued by a business regulated by the Isle of Man Financial Services Authority, this process was straightforward,” said Tom Brook, corporate partner in Appleby’s Isle of Man office.

poundtoken CBO Michael Crosbie commented: “Our mission is to enable individuals and businesses to take full advantage of blockchain technology with full confidence. With regulation and complete transparency, we expect GBPT to be increasingly adopted as a method of payment, a tool for treasury management, and a gateway to web3 applications. Appleby is a very forward-thinking Isle of Man law firm, and we are excited about the partnership between these two Isle of Man businesses at the forefront of innovation.”

Appleby Isle of Man: www.applebyglobal.com