Coinfirm adds support for Blackfridge’s Poundtoken (GBPT) to its AML platform

Blackfridge, a blockchain financial company & issuer of Poundtoken (GBPT), announced it has integrated the stablecoin on crypto RegTech provider Coinfirm’s AML platform.

Integrating Poundtoken to the blockchain-agnostic AML platform aims to 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, KPMG is a  designated auditor whose monthly proof-of-reserve attestations will confirm that all stablecoins issued are 100% backed. Through its regulation, proof-of-reserve reporting, and distributed ledger technology, Poundtoken will protect GBPT holders from price volatility while cementing trust in its value

“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’s blockchain analytics and AML solutions are trusted to analyze and manage risk.

The firm has continued to evolve 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 decentralized finance liquidity pools.

“Coinfirm is excited to announce the GBPT 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

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* This article was originally published here