Circle, Paxos Trial ‘Know Your Issuer’ Tech to Weed Out Copycats

Stablecoin heavyweights Circle Internet Group Inc. and Paxos Trust Co. have piloted a new way to prevent copycats and help companies verify their digital asset holdings

The firms partnered with Bluprynt, a fintech startup founded by Georgetown Law School professor Chris Brummer, using cryptography and blockchain technology to provide issuer verification when stablecoins are released by a company. The pilot provided a way to trace back a token to the verified issuer, using Bluprynt’s technology, according to a statement.

Bluprynt’s technology gives “provenance upfront, reducing complexity, and providing regulators and investors with the transparency they need,” Brummer said. He noted ...