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Circle And Paxos Unveil Plans For Next-Gen Verification Of Crypto Transactions
Circle And Paxos Unveil Plans For Next-Gen Verification Of Crypto Transactions
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BTCCSquare news:
Circle and Paxos are spearheading a new initiative to enhance crypto transaction verification, partnering with fintech startup Bluprynt. The collaboration leverages blockchain technology to trace tokens back to verified issuers, addressing transparency concerns in the stablecoin market.
Chris Brummer, founder of Bluprynt, highlighted the technology's ability to provide "provenance upfront," simplifying verification for regulators and investors. The MOVE aims to curb risks like counterfeit tokens and impersonation attacks, which Chainalysis recently flagged as growing threats.
The development follows Mastercard and Circle's recent stablecoin settlement milestone, signaling broader institutional adoption of blockchain-based solutions.
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