Bluprynt, an embedded compliance and blockchain infrastructure  solutions platform, has completed a know your issuer verification of USDC, the first such milestone with a global stablecoin.

Bluprynt announced on Aug. 29 that it successfully conducted a Know Your Issuer verification for USDC (USDC), the stablecoin issued by Circle. It’s a major step in the move to establish a KYI benchmark, with authenticity and compliance transparency key to the global adoption of digital assets across finance.

The U.S.-based platform, whose compliance solutions are powered by artificial intelligence, achieves KYI verification by “cryptographically binding Circle’s verified identity and mint authority directly to USDC tokens at the point of issuance.”

Verification ensures investors, custodians and financial institutions can instantly authenticate the USDC stablecoin’s provenance.

Crypto and stablecoin regulation

With regulators, including the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and U.S. Securities and Exchange Commission increasing their regulatory oversight as they demand for stronger provenance, Blueprint’s significant milestone is even more notable.

According to Bluprynt chief executive officer Chris Brummer, USDC is not just a stablecoin ready for the regulation under the OCC, FDIC and SEC, but also an asset set against future compliance challenges.

“What we need are cryptographically native solutions that are fit for purpose, combining ease with rigor,” Brummer noted. “KYI embod

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Author: Benson Toti