Poundtoken arrives on the Fireblocks network and is available to thousands more institutions

LONDON, 22nd August 2022: poundtoken (GBPT), the first FSA-regulated stablecoin fully backed 1:1 by pound sterling, announced that it is now available on the Fireblocks network, working with a leading infrastructure provider for digital assets. By operating with Fireblocks, poundtoken will reach a network of over 1,300 trusted institutions such as Revolut, Checkout.com, BNP Paribas Securities Services, B2C2, and FIS, while solidifying its reputation as a reputable stablecoin.

Fireblocks streamlines the digital asset operations of companies by providing secure storage and transfer infrastructure through its MPC wallet technology and the Fireblocks Network, which brings together exchanges, OTCs, banks and custodians into a single platform. The ultra-secure network uses patented chip isolation technologies and cryptography to offer the most trusted solution for compliant digital asset operations. The high security and reach of the Fireblocks Network means businesses that operate in GBP will have a dependable point of entry into the digital assets market through a trusted stablecoin.

poundtoken guarantees the peace of mind that holders can redeem their stablecoin for GBP at any moment, with one pound sterling backing every GBPT issued. KPMG has been appointed as its auditors, whose monthly proof of reserve attestations will confirm that all tokens issued are 100% backed. The currency was launched by blackfridge, the Isle of Man-based fintech company advancing financial services via innovative technologies. blackfridge is regulated and licensed by the Isle of Man Financial Services Authority and is required to hold GBP equal to the value of the tokens issued at all times. Combined, the company aims to protect all holders from potential price volatility while cementing trust in its value.

“Fireblock’s mission for security and trust closely aligns with poundtoken,” said Christian Walker, Head of Partnerships at poundtoken. “Working with Fireblocks ensures that poundtoken reaches trusted hands across its network in a safe and straightforward way. Together, we will continue to build GBPT’s reputation as a stable, trustworthy, and transparent stablecoin.”

“Regulated and fully-backed stablecoins like poundtoken play a critical role between traditional finance and the digital assets market.” said Jonathan Dakin, Head of EMEA at Fireblocks. “The team’s focus on compliance, trust and transparency brings a new level of confidence to stablecoins and shows how far the digital asset space has come. We’re excited to support the poundtoken team and to provide users on the Fireblocks Network with the ability to transact securely in GBP.”

About Fireblocks

Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 1,300 financial institutions, has secured the transfer of over $3 trillion in digital assets and has a unique insurance policy that covers assets in storage & transit. Some of the biggest trading desks have switched to Fireblocks because it’s the only solution that CISOs and Ops Teams both love. For more information, please visit www.fireblocks.com or contact us at info@fireblocks.com.

About blackfridge

blackfridge’s mission is to drive the next generation of financial services through innovative technologies to enable individuals and institutions to benefit from the evolving digital financial marketplace.

blackfridge is licensed and regulated by the Isle of Man Financial Services Authority and is sole issuer of the GBPT stablecoin. Monthly attestations are provided by KPMG to ensure GBPT is 100% backed in GBP at all times. For more information, please visit www.poundtoken.io

Published On: August 23rd, 2022 / Categories: press /

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