|
Coinfirm logo

Coinfirm Integrates blackfridge’s poundtoken to the AML Platform for Institutional Uptake

poundtoken_coinfirm_

LONDON, July 20, 2022 – blackfridge, a pioneering FinTech company on a mission to advance financial services through innovative technology has chosen leading crypto RegTech provider Coinfirm to integrate blackfridge’s GBP-pegged stablecoin, poundtoken (GBPT), to Coinfirm’s AML Platform. The partnership further ensures that poundtoken is secure, meeting the highest standards of regulation.

By integrating poundtoken to the blockchain-agnostic AML Platform, this integration will ensure that financial institutions and VASPs are able to be in full compliance with the FATF’s guidelines, 6AMLD and other supranational and national regulations whilst transacting with GBPT, furthering the stablecoin’s uptake long-term.

The first regulated GBP-pegged stablecoin launched in the British Isles, GBPT is designed with simplicity and consumer confidence at its core. KPMG is appointed auditors whose monthly proof-of-reserve attestations will confirm that all stablecoins issued are 100% backed. Through its robust regulation, proof-of-reserve reporting, and distributed ledger technology, poundtoken will protect GBPT holders from price volatility while cementing trust in its value. GBPT also allows direct GBP access to digital assets markets and decentralised finance (DeFi), and facilitates frictionless real-time settlements.

“The use of blockchain analytics plays a major part in protecting consumers and reducing financial crime. The tools and services provided by Coinfirm enable us, exchanges, custodians, and other third parties to track the history of GBPT on the blockchain. The partnership with Coinfirm represents our continued dedication to achieving the highest standards in Anti-Money Laundering and Countering the Financing of Terrorism controls.” – Bryn Griffith, Chief Compliance Officer of poundtoken

“Coinfirm is excited to announce the poundtoken integration to the AML Platform. This ensures that compliant parties to poundtoken transactions are able to quickly ascertain if and when they are dealing with bad actors, to prevent them from receiving regulatory fines, loss of reputation or regulator-stipulated operations constrictions by providing counterparties with actionable intelligence.” – Dr. Mircea Mihaescu, Chief Executive Officer of Coinfirm

Coinfirm’s blockchain analytics and AML solutions are trusted to best analyse and manage risk. The firm has continued to innovate in lockstep with the crypto markets, being the first AML provider to integrate NFTs to the AML Platform as well as the first to offer AML/CFT analysis of token holder populations and decentralised finance liquidity pools.

— END —

About Coinfirm

Coinfirm is the world leader in blockchain analytics and regulatory technology solutions, creating a safer blockchain economy by protecting entities being tainted with funds from ransomware hacks, human trafficking, sanctions evasion and terrorist financing by risk scoring entities, addresses and transactions.

The company specialises in blockchain AML services – utilising 350+ proprietary risk algorithms to provide seamless, scalable tools to comply with stringent regulatory requirements for both CeFi and DeFi, and monitoring 25k+ blockchain entities and covers over 845k+ virtual assets – an industry-leading 98% of the market.

Founded in 2016, Coinfirm is headquartered in the UK, with the company retaining offices in Poland, Canada, France and Japan. Over 300 entities have trusted the company to provide RegTech solutions to stay in compliance with crypto regulations.

For more information, please visit www.coinfirm.com

About blackfridge

blackfridge’s mission is to drive the decentralisation of the financial services industry 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 welcome.poundtoken.io