According to Bloomberg, stablecoin issuers Circle and Paxos are collaborating with fintech company Bluprynt to test a new mechanism based on blockchain and crypto technology for verifying the identity of stablecoin issuers and preventing counterfeiting. This mechanism can mark the source of tokens at issuance, enhancing audit, regulatory, and investment transparency, and helping to prevent counterfeit coins and impersonation attacks. Bluprynt was founded by Georgetown University law professor Chris Brummer.