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.
