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KPMG to Audit New UK Stablecoin As Large Firms Eye Crypto Sector

July 11, 2022, 5:30 PM

KPMG LLP will audit the reserves of a new UK stablecoin, in a sign that big accounting firms are increasingly willing to deal with the crypto sector.

Blackfridge, an Isle of Man-based fintech company, launched a new stablecoin Monday called Poundtoken. It is a digital currency backed 1:1 by the British pound, and KPMG will audit its sterling reserves.

  • “In addition to robust regulation we’re excited to have KPMG auditing poundtoken in this new exciting time to crypto and hope to bring further reassurance to those involved,” Poundtoken Chief Operating Officer Nicholas Maybin said in a statement.
  • KPMG will produce ...