PANews reported on August 28th that stablecoin giants Circle Internet Group Inc. and Paxos Trust Co. have piloted a new approach to prevent copycats and help companies verify their digital asset holdings, according to Bloomberg. The two companies have partnered with Bluprynt, a fintech startup founded by Georgetown University Law School professor Chris Brummer, to leverage cryptography and blockchain technology to provide issuer verification when companies issue stablecoins. The pilot project utilizes Bluprynt's technology to provide a method for tracing tokens back to verified issuers. Brummer stated that Bluprynt's technology "provides proof of origin upfront, reducing complexity and providing the transparency regulators and investors need." He noted that this helps reduce losses from counterfeit tokens and impersonation attacks.PANews reported on August 28th that stablecoin giants Circle Internet Group Inc. and Paxos Trust Co. have piloted a new approach to prevent copycats and help companies verify their digital asset holdings, according to Bloomberg. The two companies have partnered with Bluprynt, a fintech startup founded by Georgetown University Law School professor Chris Brummer, to leverage cryptography and blockchain technology to provide issuer verification when companies issue stablecoins. The pilot project utilizes Bluprynt's technology to provide a method for tracing tokens back to verified issuers. Brummer stated that Bluprynt's technology "provides proof of origin upfront, reducing complexity and providing the transparency regulators and investors need." He noted that this helps reduce losses from counterfeit tokens and impersonation attacks.
Stablecoin Issuers Circle and Paxos Test New Tech to Verify Crypto Payments
PANews reported on August 28th that stablecoin giants Circle Internet Group Inc. and Paxos Trust Co. have piloted a new approach to prevent copycats and help companies verify their digital asset holdings, according to Bloomberg. The two companies have partnered with Bluprynt, a fintech startup founded by Georgetown University Law School professor Chris Brummer, to leverage cryptography and blockchain technology to provide issuer verification when companies issue stablecoins. The pilot project utilizes Bluprynt's technology to provide a method for tracing tokens back to verified issuers. Brummer stated that Bluprynt's technology "provides proof of origin upfront, reducing complexity and providing the transparency regulators and investors need." He noted that this helps reduce losses from counterfeit tokens and impersonation attacks.
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