THELOGICALINDIAN - The poundtoken is 100 backed by British batter affluence and has the abounding abutment of British regulators
Poundtoken, the aboriginal absolutely regulated, fully-collateralized stablecoin called to the Great British pound, is now actuality offered by a aggregation amid in the Isle of Man.
GBPT Available on UniSwap
The apple of stablecoins is affable a new adversary today.
Today crypto aggregation Blackfridge launched a British-regulated stablecoin alleged “poundtoken.” The stablecoin, which bears the ticker GBPT, is 100% backed by affluence in pounds sterling. It is the aboriginal adapted British batter stablecoin anytime issued.
Stablecoins are cryptocurrencies that aim at application adequation with a government-issued currency, in best cases the U.S. dollar. Some stablecoin issuers, like MakerDAO, are decentralized protocols hosted on a blockchain; others, such as Circle, are centralized companies. Blackfridge avalanche beneath the closing category.
Blackfridge CEO Alan Sun declared that the cryptocurrency bazaar had afresh suffered a “difficult” few weeks, with abounding participants accident funds during Terra’s UST collapse. He assured GBPT would action “the adherence of the British pound, and the advance of austere British banking regulations, accumulated with the speed, transparency, and candor of the blockchain.”
GBPT was launched on Ethereum but is accepted to aggrandize to assorted blockchains. Poundtoken can currently be traded on UniSwap, Gate.io, and Bittrex Global, admitting the aggregation assures added platforms will anon be alms it.
Blackfridge is adapted and accountant by the Isle of Man Financial Services Authority. The Isle of Man is a free British Crown annex amid in the Irish Sea, amid England and Ireland. It is not allotment of the United Kingdom, nor is it a British Overseas Territory. An auditor, KMPG, has already been appointed to ensure the bread charcoal 100% backed: it will be arising proof-of-reserve statements monthly.
Other stablecoin issuers accept been accretion their products, with arch providers Circle and Tether attractive to appropriately barrage euro-backed and Mexican peso-backed currencies.
Disclosure: At the time of writing, the columnist of this allotment endemic ETH and several added cryptocurrencies.
