Bluprynt’s new technology integrates a 'Know Your Issuer' (KYI) framework into stablecoins like Circle’s USDC and PayPal’s PYUSD, aiming to curb losses from counterfeit tokens and enhance institutional compliance.
Bluprynt has completed a pilot project incorporating a 'Know Your Issuer' (KYI) framework into Circle’s USDC and PayPal’s PYUSD stablecoins, addressing the $1.6 billion in annual losses from counterfeit tokens. The system uses blockchain and cryptography to link verified issuer identities to assets on-chain. This initiative aligns with broader regulatory moves, including guidance from the U.S. Office of the Comptroller of the Currency. The technology also integrates with the Solana Attestation Service (SAS) for further token verification.