What Is Poundtoken (GBPT) ? Complete Guide & Review About Project202

What Is Poundtoken (GBPT) ?

Poundtoken The first British-Isles regulated and 100% backed GBP stablecoin. poundtoken.io is the sole issuer of the GBPT stablecoin. Monthly attestations are provided by KPMG to ensure GBPT is 100% backed in GBP at all times. To provide a world-leading GBP stable coin that will become the gold standard enterprise solution for global payments. To improve the perception of, and to promote the use of Distributed Ledger Technology, and To use innovation to advance the business’s customer base and product offering.

Poundtoken The business will deliver a world-leading service through investing in its technology and people to provide a first-class customer experience. The business will maintain a robust regulatory framework to engender trust from its clients through transparency, security, and good governance. 8. Where opportunities for development are recognized, the business will act to market the products and services it offers to potential new customers and develop the current products and services to expand the offering into new markets.

Poundtoken (GBPT) Storage Key Points

Mission

Poundtoken To be the GBP stable coin of choice allowing 24/7 real-time settlements. To be the first British-Isles regulated 100% backed GBP stablecoin with proof of reserve and monthly attestations from a top-4 accountancy firm.

Big 4 Audited

Poundtoken is the sole issuer of GBPT and is audited monthly by KPMG. Monthly assurance reports give holders of GBPT the peace of mind that their GBPT maintains its stable value. Designed for stability, GBPT is 100% backed by GBP held in GBP-denominated bank accounts so that it’s always redeemable 1:1 for pounds sterling.

British Isles Regulated

Poundtoken holds a Money Transmission Services Licence issued by the Isle of Man Financial Services Authority. Consumer protection is one of the Isle of Man Financial Services Authority’s three regulatory objectives.

Built for Everyone

Exchanges

Enable customers to convert GBP to GBPT to hold and trade on-chain.

Businesses

Poundtoken Send and receive near-instant international payments to reach new customers and achieve faster cash flow.

Institutions

Make markets, simplify international remittance and take advantage of digital asset treasury, exchanges and decentralised finance in GBPT.

Individuals

Poundtoken Transfer money and make payments across borders and use GBPT to leverage decentralised finance and Web3.

Issue & redeem GBPT directly

1. Link and verify your business bank account
2. Deposit GBP securely and receive GBPT on-chain
3. Withdraw GBPT to your wallet

Poundtoken (GBPT)

This designed to meet with the strict e-money regulatory requirements of the IOMFSA. The business has every right to be considered a trusted stablecoin issuer in the global market. 14. Independently audited segregated payment accounts will protect client funds and ensure complete separation from the business’s own assets. Appointed auditors will provide the independent attestation services to certify the collateral of the stablecoin to be at least 100%.

The business via its banking partner guarantees that a one-for-one reserve of any coin issued is held in GBP denominated assets by reputable financial institutions. This gives customers the comfort that the fiat held against the GBP back stable coin is protected. 15. The business will provide a platform for issuing, redeeming, and withdrawing the stable coin. Users of the platform will incur fees in GBPT for carrying out transactions on the platform. All fees will be notified to customers in a clear and open manner.

Governance

Poundtoken ownership, management and control of the business is in the Isle of Man. The UBO is resident in Isle of Man and all the executive and non-executive board members are resident in Isle of Man. . The business recognises that the law does not distinguish between standards, duties and responsibilities of executive and non-executive Directors (see the IOMFSA’s guidance on the responsibilities and duties of directors under the laws of the Isle of Man at https://www.iomfsa.im/media/1699/guidanceontheresponsibilitiesand.pdf). The board are accountable for governance and ensuring the business acts compliantly.