Stablecoin giants Circle and Paxos are testing new technology to verify cryptocurrency issuance.

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On August 27, Bloomberg reported that stablecoin giants Circle and Paxos are testing new cryptocurrency issuance verification technology to help entities verify their digital asset holdings. Circle and Paxos, in collaboration with Bluprynt, a fintech startup founded by Georgetown Law School professor Chris Brummer, will leverage cryptography and blockchain technology to provide issuer verification when entities issue stablecoins, enabling the tracing of tokens back to their verified issuers.

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