According to Odaily, ClearBank has been chosen by Poundtoken to provide banking services, allowing it to hold its fiat-backed stablecoin reserves in English banks. ClearBank offers secure accounts, real-time clearing, and embedded banking services to financial institutions. It has been reported that Poundtoken is the first regulated issuer of a British pound stablecoin in the UK. The fiat equivalent assets of Poundtoken (GBP) are 'stored in secured and segregated bank accounts to support one-to-one exchange into pounds.' In addition, ClearBank will also provide real-time transfer services.
ClearBank Selected By Poundtoken To Provide Banking Services
![](https://public.bnbstatic.com/image/pgc/202211/ff39a105a210ecd0a61407a69ad82dbd.jpg)
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