This July 1st, Public coin has started its public blockchain platform of the type “Fiat-Native”after two years of development.
The platform consists of A blockchain-based system that enables the tokenization of fiat currencies which are deposited in the accounts of the insured and regulated Fiat custodian banks and essentially from a stable coin supported by a network of banks.
Public Mint claims to have already worked with a network of more than 200 banks to fund the funds to support its Fiat Token network. However, the website does not contain any further information on banking partners Hyperledger and IBM Digital Asset Labs You will be named as an employee on the ad.
Companies using the new platform can pay by credit card, bank transfer or ACH (Automated clearing house). While so far The network only supports US dollars. Other fiat currencies are expected to be launched soon.
The blockchain from Is public coin a modified version of Hyperledger Besu with a different consensus mechanism and a course based on fiat currencies.
With a view to the beginning DeFi sector
The company was co-founded by Halsey Minor, known for co-founding the pioneering digital media company CNET in 1993. He filed for bankruptcy in 2013, but since then he founded it VideoCoin network, a decentralized video media platform that works with Public Mint.
In an ad, Minor described the platform as an intermediary for decentralized financial applications of the type Fiat:
“The emergence of public mint was to allow regulated banks to hunt for money that could then be minted as tokens or ‘tokens’, enabling the creation of applications and business processes around money without actually moving money between banks . “
DLT leaders give their support
The platform appears to have received support from key players in the field of distributed general ledger technology (DLT). The managing director of Hyperledger, Brian BehlendorfHe expressed his enthusiasm “that Public Mint has to face the challenges of programmable currencies and seamless money transfers”.
Nitin Gaur, director of IBM Digital Asset Labs, said:
“In close cooperation with banks and trust companies and in accordance with regional and global regulations, Public Mint addresses this original promise so that all companies, from traditionally established to new and innovative DeFI companies, can pave the way to increasing digital assets “.