Circle (CRCL) and Paxos, are leading a new initiative aimed at enhancing the verification of crypto holdings. According to a Bloomberg report , the firms have partnered with Bluprynt, a fintech startup founded by Chris Brummer, to pilot a new approach that leverages cryptography and blockchain technology.

Enhanced Transparency In Stablecoin Market?

The pilot program is said to utilize Bluprynt’s technology to trace each token back to its verified issuer, thereby enhancing transparency in the stablecoin market in line with the recent legislations that aim to provide a new regulatory framework for dollar-pegged cryptocurrencies .

Brummer emphasized that this technology provides “provenance upfront,” which not only simplifies the verification process but also offers essential t

See Full Page