- The blockchain solution will provide attestation services for CoinShares ETPs
- LedgerLens improves trust in tokens backed by assets and notes collateralized in crypto
CoinShares International Limited, the leading European alternative manager specializing in digital assets, has launched LedgerLens, a solution by The Network Firm for attesting reserves in real time, Bankless Times learned from a press release.
Instant verification of digital asset backing and more
The independent accounting firm’s novel, blockchain-enabled solution will provide attestation services for CoinShares’ Exchange Traded Products (ETPs) in real time, including CoinShares Physical and XBT Provider. This will make it possible for investors to verify digital asset backing via instant, easily accessible attest reports.
Improving trust in tokens
CoinShares’ LedgerLens solution improves trust in tokens backed by assets and notes collateralized in crypto by providing insight and high frequency reporting on assets and liabilities, including historical positions.
The improved trust and transparency further solidify CoinShares’ reputation as a leader in the digital asset investment sector by facilitating compliance with regulations. CoinShares CFO Richard Nash said:
We are happy to announce that we are re-launching our proof-of-reserves solution with the help of The Network Firm and the same, trusted team of individuals we have been working alongside for nearly three years. We see this solution as part of our overall commitment to transparency which is of course a fundamental requirement and benefit of our listed status.
The Network Firm CEO Noah Buxton added:
While real-time reserves reporting is not a panacea to all trust problems in the market today, it does empower asset managers to meet the demands of consumers and the public to offer additional, meaningful, frequent, and independent transparency into their products and operations.
Independent asset verification in real time
CoinShares’ commitment to making tailored investment products available with transparency, enhanced security, and trust in the digital asset market is fortified by allowing independent asset verification in real time.
