Circle and Paxos Test New Verification Technology for Stablecoin Issuance

According to BlockBeats, stablecoin leaders Circle and Paxos are testing a new technology for verifying cryptocurrency issuance. This initiative aims to enhance the verification of their holdings of digital assets. The companies are collaborating with Bluprynt, a fintech startup founded by Georgetown University law professor Chris Brummer. By leveraging encryption and blockchain technology, this partnership aims to provide source verification during the actual issuance of stablecoins, enabling tracking of tokens to approved issuers.