Benzinga | Jun 11, 2021 08:36AM EDT

GreenBox POS Reports Selected Armanino To Provide Real-Time Attestations Covering US Dollar Stablecoin Collateral

Global Leader in Blockchain and Digital Asset Solutions Brings Highest Level of Trust and Transparency to GreenBox POS Token Infrastructure

SAN DIEGO, CA, June 11, 2021 (GLOBE NEWSWIRE) -- GreenBox POS (NASDAQ: GBOX ("GreenBox" or the "Company"), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions, announced the selection of Armanino as the attestation provider for its new US Dollar collateralized stablecoin. Armanino, a top 25 accounting and business consulting firm, is one of the largest blockchain attestation providers in the United States and has a particular expertise serving stablecoin issuers.

By deploying a stablecoin into GreenBox's current offering set, GreenBox's customers will benefit from the myriad of qualities that only blockchain-based stablecoins can deliver, including near instant transaction settlement, reduced friction of cross-border payments, and increased transparency and auditability. GreenBox is committed to offering industry standard attestations over the US Dollar collateral backing each GreenBox stablecoin to support ongoing trust in our products and the stability of our stablecoin offering.

Armanino has served cryptocurrency clients since 2014, including many of the top exchanges and token projects, and already provides attestation services covering in excess of $6 billion worth of digital assets. Armanino's TrustExplorer(R) is the world's first application of real-time attestation and utilizes blockchain technology to provide ongoing, on-demand continuous reporting. With the ability to provide services in over 100 countries, working with Armanino will allow GreenBox to deploy its token technology internationally, with attest reporting for all customers, while ensuring compliance with the Company's multiple oversight requirements.

"TrustExplorer is designed to elevate trust and transparency in digital assets by providing users with real-time, on-demand reporting over stablecoin reserves," said Noah Buxton, Managing Director of Armanino's Digital Assets practice. "In a world where digital assets like stablecoins run on blockchains, our attest tools must keep pace. We are delighted to work with GreenBox as they innovate to provide their customers new and trusted products."

"Armanino is a natural fit as the attestation provider for our token ecosystem given their existing familiarity and integration with GreenBox technology from the SOC 2 compliance audit which will help expedite the onboarding process," said Ben Errez, Chairman of GreenBox POS. "Their expertise in attestation of digital asset ecosystems will ensure transparency and trust for our token custodial infrastructure. We are thrilled to be working with Armanino as we look to deploy our token technology prior to the end of the second quarter."