APTY NEWS - Update: APT Systems Underscores Compliance as a Growth Strategy for Spera
From its inception, we’ve built Spera to comply with existing financial regulations, and anticipated future regulations,” says CEO.
SAN FRANCISCO, CA, May 20, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- APT Systems, Inc. (OTC Pink: APTY), a fintech company, is underscoring its “compliance as a growth strategy” as it prepares to bring its Spera (SPRA) stablecoin to the market.
“From its inception, we’ve built Spera to comply with existing financial regulations, and anticipated future regulations,” says Glenda M. Dowie, CEO of APT Systems. “This is why we created Spera to be a true stablecoin; it is backed by U.S. dollars and gold so that the value of SPRA will always be $1.”
The hard asset backing of Spera is in sharp contrast to other stablecoins that have algorithmic or other backing mechanisms, that don’t involve assets like dollars and gold.
“We believe compliance will be a powerful market differentiator as the financial sector and public look for a true stablecoin that by design holds its $1 peg,” Dowie says. “APT Systems is a completely domestic U.S. corporation. And as a GAAP reporting public company, we understand what it takes to be compliant and transparent. We back SPRA with 98% U.S. dollars and 2% gold, all of which can be verified independently through a third-party. We provide transparency and auditability.”
APT Systems developed SPRA to work seamlessly with its Verifundr digital escrow application, which uses smart contracts in part to serve as a neutral third-party to ensure funds are duly released upon both parties fulfilling their contractual obligations. The blockchain-supported portion of Verifundr is ideally suited for escrow, while Spera provides for payments including simple transfers of escrow funds both domestically and internationally.
The SPRA stablecoin development has been completed and security tested. The Company is currently completing a final integration with its financial infrastructure partner, which will provide a range of financial services, including onboarding of new accounts, transferring U.S. dollar, and facilitating wallets for purchasing and holding Spera stablecoins.
“We feel vindicated by recent market events that our dedication to creating a U.S.-based compliant—and true—stablecoin will position us strongly as the stablecoin of choice in what we see as an expanding multi-billion-dollar market,” Dowie says. “Compliance should serve as rocket fuel as we move towards our launch.”
