Poundtoken Has Integrated Chainlink

Poundtoken is excited to announce that they have integrated Chainlink Proof of Reserve (PoR) to enable real-time visibility into the reserves backing GBPT, our fully-backed GBP stablecoin regulated in the British Isles. Chainlink PoR is also used to help secure the minting function of GBPT, helping ensure that the circulating supply of GBPT does not increase beyond the amount of off-chain fiat reserves held via safeguarded accounts at Bank Frick.

Poundtoken has previously announced their intent to integrate Chainlink—find more information about the technical details of the integration and the automated workflow that helps ensure that no unbacked GBPT can be minted.

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

About Poundtoken

Blackfridge SC Limited is the issuer of poundtoken or GBPT. Blackfridge’s mission is to drive the next generation of financial services through innovative technologies to enable individuals and institutions to benefit from the evolving digital financial marketplace.

DETAILS:

https://poundtoken.io/poundtoken-has-integrated-chainlink-proof-of-reserve-por-to-help-secure-gbpt-minting/

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