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Archblock Announces Rebranding of Stablecoin Portfolio

IndiaArchblock Announces Rebranding of Stablecoin Portfolio

Business Wire India

Archblock, enabling open access to financial opportunities and global trade, is thrilled to announce the rebranding of its portfolio of stablecoins, previously known as TrueCoin. The Archblock Stablecoins portfolio features fiat-backed stablecoins pegged to the GBP, CAD and AUD. The company plans to introduce an HKD stablecoin after the licensing requirements are established.

In addition to its portfolio of stablecoins, Archblock Stablecoins offers the technical and operational foundation to build white-label stablecoins for others. Archblock launched the first institutional-grade fiat-backed stablecoin, TrueUSD (“TUSD”), in 2018 as a proof of concept in asset-backed token development. TUSD has since been sold to Techteryx, who continues to operate the stablecoin. As of June 30, 2023, the market capitalization of TUSD exceeded $3.0B. With experience in building scalable white-label stablecoins, Archblock is excited to continue developing and implementing stablecoin platforms customized to meet the needs of its partners. Archblock Stablecoins services include bank-grade customer onboarding with audited KYC/AML, smart contract development and maintenance, bank integration, exchange listings for liquidity, white-labeled user-facing application for minting and redeeming, and industry-leading security.

Designed to overcome the limitations of traditional banking systems, Archblock is committed to leveraging the global potential of blockchain technology. Initially created as a secure and trusted on-and-off ramp for on-chain investors, Archblock’s stablecoin offering has evolved. It now serves as the foundation for next-generation financial services, taking advantage of blockchain’s transparency, immutability and efficient settlement processes. Stablecoins enable 24/7 transactions and reduce the friction and costs associated with traditional banking, and promote financial inclusion, allowing users to transact easily globally.

Alex de Lorraine, Chief Executive Officer of Archblock, stated, “Our stablecoin management system is engineered with a focus on the customer experience, catering to businesses, institutional users and retail users alike. Our stablecoins are built with transparency and regulatory compliance at the forefront. We ensure transparency and equal access to information by partnering with third parties for real-time independent attestations, external audits, and proof-of-reserves. Our aim is to use web3 enabled finance systems to democratize financial solutions that have historically been available only to those with access to traditional banking institutions. Whether investing in digital assets on-chain or transacting with businesses that accept digital currencies, our stablecoins offer a more efficient and cost-effective option.”

The Archblock Stablecoins portfolio is accessible on 12 blockchains and over 90 exchanges. It is available to all users who meet the KYC/KYB requirements.

About Archblock Stablecoins

Archblock is expanding access to financial opportunities and global trade with its Archblock Stablecoins portfolio and Archblock Marketplace. Archblock Stablecoins offers the technical and operational foundation to build white-label stablecoins for others, and operates a portfolio of fiat-backed stablecoins. For more information about Archblock Stablecoins, please contact Archblock at [email protected].

View source version on businesswire.com: https://www.businesswire.com/news/home/20230912852354/en/

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