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.”
About GreenBox POS
GreenBox POS (NASDAQ: GBOX) is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company's applications enable an end-to-end suite of turnkey financial products, reducing fraud and improving the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the Company's website at www.greenboxpos.com.
Armanino LLP (www.armaninollp.com) is one of the 25 largest independent accounting and business consulting firms in the nation. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. The firm extends its global services to more than 100 countries through its membership in Moore Global, one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital (www.intersectcapitalllc.com) is an independent financial planning, wealth and lifestyle management firm.
Forward-Looking Statements Disclaimer
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.