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Isle of Man licenses GBP-pegged stablecoin firm
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The watchdog has granted a financial services licence to Blackfridge to undertake payment services and issue electronic money.Blackfridge is now set to launch its stablecoin product, called “poundtoken”, the first e-money instrument constituted as a GBP-pegged stablecoin issued in the British Isles.Lyle Wraxall, cheif executive, Digital Isle of Man, says: "Blackfridge is a cutting-edge business, and we’re pleased to have played a part in their journey as they reach this regulatory milestone ahead of the launch of their stablecoin.
"The Island welcomes innovative technology and is focused on supporting more businesses through the regulatory process, giving them the ability to best use this transformative technology."
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