According to ChainCatcher, according to Crowdfund Insider, ClearBank announced that it has been selected by Poundtoken to provide banking services, allowing it to hold its fiat-backed stablecoin reserves at the Bank of England. ClearBank provides financial institutions with secure accounts, real-time clearing and embedded banking services.
It is reported that Poundtoken is the first regulated pound stablecoin issuer in the UK. The fiat equivalent assets of Poundtoken (GBP) are "deposited in a secure and segregated bank account to support a one-to-one exchange for pounds."
In addition, ClearBank will also provide real-time transfer services.
