Cryptocurrency News

Fluent Finance incorporates Chainlink proof of reserve

Fluent Finance, which happens to be the fintech firm, which in turn, is responsible for the U.S. Plus stablecoin, has delivered to the virtual world its real-world fiat proof of reserves (RTPoR), with the effective utilization of Chainlink Proof of Reserve, positioned on the Ethereum.

The ultimate benefit to all of its users out of all of this will be the fact that they will be in the position of, whenever the need arises, exchanging their possessed stablecoins, with that of the U.S. dollar. However, this will also be made possible with the Fluent consortium of banks coming together, which exists within the confines of the U.S. Plus ecosystem.

This scenario creates an environment of absolute safety and security regarding their stablecoin holdings, where all its connected users are concerned.According to the CEO of Fluent, Bradley Allgood, when they began the exercise of looking deeply within and about the stablecoins and conducted their very own study of it, they instantly realized that the reason behind their not attaining a great amount of popularity was due to all factors related to safety and security of the stablecoins.

Therefore, in his aim and intention of designing the U.S. Plus, he kept the highest priority on eliminating any and every related risk issue. Their team also understood they had to offer real-world and clear processes for supervising reserves. There was also the need for alienating the only factor of failure and, coupled with it, incorporating tough processes related to KYC/KYB through an entourage of banks.

Jason Palmer

Jason Palmer joined CoinNewsSpan as an editor and analyst. He has over five years of experience as a forex analyst. He holds a master's degree in business administration with specialization in finance. He is actively involved in analyzing the prevalent crypto trends. He has a keen interest in commodities and forex trading.

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