Episode Six adds stablecoin backing checks at issuance and redemption

Episode Six has launched Verified Backing for bank-issued stablecoins and tokenized deposits, adding real-time checks before tokens are created and before cash is released at redemption. Summary Verified Backing checks recorded backing at issuance and confirms tokens remain outstanding before redemption. Episode Six says the checks run inside its Token Control Ledger on the issuing bank’s side. The capability covers supported tokens issued through the ledger, including stablecoins and tokenized deposits. The company says Verified Backing is available to customers across the markets where it operates. Episode Six said in its Oct. 15 announcement that Verified Backing checks tokens against backing recorded in its E6 Token Control Ledger. At redemption, the system checks whether a token is genuine, remains outstanding, and has backing recorded for it before the bank releases funds. According to the Austin, Texas-based company, the capability covers a bank’s own supported tokens issued through the ledger. The release identifies both stablecoins and tokenized deposits as products covered by the checks. Stablecoin backing checks run before issuance and payment Before a bank creates a tok...