Benzinga | Jun 22, 2021 08:32AM EDT

Greenbox POS Highlights Launch Of Stablecoin Tkoen, COYNI, To Early Adopters

GreenBox POS (NASDAQ:GBOX) ("GreenBox" or the "Company"), an emerging financial technology company leveraging proprietary blockchain ledger and stablecoin token technology to build customized payment solutions, today announced the pilot launch of its COYNI (CYN), a stablecoin token, to registered early adopters. To fund the pilot launch, the Company deposited $5 million as initial seed capital with its token custodian bank and plans to rapidly scale capital in the token revolver. Attestations are set to begin the first week of July in preparation for onboarding of additional large-scale volume.

COYNI (CYN), deployed on the Company's blockchain ledger, offers enhanced scalability combined with secure instant settlement for transactions as well as the required consumer protection capabilities like transaction deletions and reversals. We believe this is a distinct advantage versus all other tokens that also allows for blockchain ledger security without the price volatility of traditional cryptocurrencies and while transacting in full regulatory compliance. COYNI provides instant liquidity through direct exchange connectivity allowing for exit into any fiat or crypto media. In addition, COYNI technology can be adopted by all financial institutions that wish to process stablecoin payments capabilities as governed by the OCC.

"The launch of COYNI will be a pivotal moment for GreenBox as we look to aggressively gain market share in the digital payments and money transfer markets," said Fredi Nisan, Chief Executive Officer of GreenBox POS. "By solving for problems inherent in other token technologies and utilizing our blockchain ledger infrastructure, we believe we are well positioned for rapid expansion of processing volume leading to sustainable value for our shareholders."

For more information and to sign up for COYNI, visit https://www.coyni.com/