Digivault appointed custody partner of Poundtoken 13 July 2022UK Reporter: Holly Shelton
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Digivault has entered into a partnership with Poundtoken, a British Isles-regulated stablecoin that is 100 per cent backed by GBP.
Issued by Blackfridge, an Isle of Man-based fintech company, Poundtoken allows direct GBP access to digital asset markets and facilitates real-time settlements.
Poundtoken, known by the ticker ‘GBPT’, guarantees that holders can redeem their stablecoin for GBP at any moment, with £1 back every GBPT issued.
As part of the partnership, Digivault will offer the holders of Poundtoken secure custody in the UK, where holders can choose to have their tokens held in vaults, or protected by government-grade data diodes.
Speaking on the collaboration, Digivault’s CEO, Robert Cooper, comments: “We are delighted to partner with a company that has the same commitment to regulation and transparency as we do.
“Poundtoken’s 100 per cent backed and monthly attestations with a Big Four accountancy firm will give comfort to those investors and we believe it will fuel demand for the first British Isles-regulated GBP stablecoin.”
Micheal Crosbie, chief business officer at Poundtoken, adds: “Through this partnership, we can now recommend to our clients a powerful custodian that combines multiple layers of protection, eliminating the need for trust in a single person or group of people.”
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