LONDON, July 12, 2022 /PRNewswire/ -- FCA-registered
custody provider Digivault, part of the EQONEX Group, has entered
into a partnership with Poundtoken.io, the first British-Isles
regulated stablecoin that is 100% backed by GBP.
This comes as market volatility and liquidation events continue
to drive investors to regulated stablecoins in an effort to
safeguard portfolios and store wealth during the crypto winter.
Launched this week at London's
Fintech Week, poundtoken, known by the ticker "GBPT", is issued by
blackfridge, the Isle of Man-based
fintech company and allows direct GBP access to digital asset
markets and facilitates frictionless real-time settlements.
Designed with simplicity and consumer confidence at its core,
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. Coupled with the regulation and integration of a
distributed ledger, poundtoken aims to protect all holders from
potential price volatility while cementing trust in its value.
As part of the partnership, Digivault will offer the holders of
poundtoken secure custody in the UK, through its cold and warm
custody solutions. Holders can choose to have their tokens held in
vaults, which securely store private keys alongside physical
precious assets such as metals, rare gems and fine art, or
protected by government-grade data diodes that are housed inside
arguably the most physically robust data centres in the UK.
Digivault set the standard for digital asset custody when it
became the first standalone custodian in the UK to gain FCA
accreditation. Its military-grade solutions are now used by law
enforcement agencies, along with a growing list of institutional
clients.
Robert Cooper, CEO at Digivault,
said: "We are delighted to partner with a company that has the same
commitment to regulation and transparency as we do. Poundtoken.io
is launching at a time when UK investors are looking closely at
their stablecoin portfolio to ensure that their assets are liquid
and safe. Poundtoken's 100% 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."
Michael Crosbie, Chief Business
Officer at poundtoken.io, added: "We were impressed by Digivault's
digital asset custody that integrates physical and virtual
security, and we know the holders of poundtoken will be too.
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. As part of a Nasdaq-listed group, Digivault is accountable
to the SEC, as well as to the FCA through its registration. We are
looking forward to a long-term relationship between our two
companies."
About Digivault
- Digivault provides digital asset custody that integrates
physical and virtual security, giving institutions tangible
solutions in a rapidly evolving world. We deliver a powerful
custodian that combines multiple layers of protection, eliminating
the need for trust in a single person or group of people. As part
of a Nasdaq-listed company, we are accountable to the SEC, meaning
increased regulation. However, we eliminate the need for trust
through our processes and technology, providing our clients with
peace of mind.
- Digivault is part of the EQONEX Group. EQONEX Limited (NASDAQ:
EQOS) is a technology driven digital assets financial services
group that provides institutional grade infrastructure and a full
suite of trading, custody and asset management solutions to
clients. The Group's digital assets ecosystem has been designed to
accommodate the needs of institutions and individuals with the same
degree of regulatory oversight and security they are accustomed to
in traditional financial markets. EQONEX's ecosystem primarily
encompasses EQONEX Exchange, a digital asset exchange; Digivault,
EQONEX Investment Products, listed crypto vehicles and Bletchley
Park Asset Management, a fund of crypto-hedge funds.
For more information visit: www.digivault.com. Follow Digivault
on social media on Twitter @DigivaultGlobal, and on LinkedIn.
ABOUT Blackfridge:
Blackfridge is a pioneering fintech company on a mission to
advance financial services through innovative technology. Based in
Douglas in the Isle of Man, it is
financially regulated and licensed by the Isle of Man Financial
Services Authority.
Forward-Looking Information
Any forward-looking statements in this press release are based
on available current market material and management's expectations,
beliefs and forecasts concerning future events impacting EQONEX.
You are cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, as well as assumptions, which, if they were to ever
materialize or prove incorrect, could cause the results of EQONEX
to differ materially from those expressed or implied by such
forward-looking statements. The forward-looking statements made in
this press release speak only as of the date hereof and we disclaim
any obligation, except as required by law, to provide updates,
revisions or amendments to any forward-looking statements to
reflect changes in our expectations or future events.
