Archblock
Archblock, founded in 2017 in San Francisco, CA, is a company specializing in regulated and fully collateralized stablecoins and blockchain-based financial solutions. They offer a suite of tools for fund managers and have developed platforms such as TrueUSD, TrueFi, and the Archblock Institutional Platform.
History
Archblock was founded in 2017 in San Francisco, CA. In 2018, the company closed over $38M in a Reg D token pre-sale and launched TrueUSD, the first regulated and fully collateralized stablecoin backed by USD. By 2019, Archblock expanded its offerings to include additional fiat-backed stablecoins such as TrueGBP, TrueCAD, TrueAUD, and TrueHKD, as well as TrueGOLD, a proof-of-concept commodities-backed stablecoin collateralized by gold. In 2020, the company developed TrueFi, an alternative asset management platform, and later entered into a strategic sale of TrueUSD to Techteryx. The following year, Archblock strengthened its engineering team through the acquisition of Ethworks, renamed Archblock Poland, and saw TrueFi reach $1B in loan originations. The rebrand from TrustToken to Archblock occurred in 2022, coinciding with the launch of TrueFi’s on-chain governance smart contracts. In 2023, the company launched the Archblock Institutional Platform on TrueFi’s blockchain infrastructure.
Stablecoin Products
Archblock's stablecoin portfolio includes fiat-backed stablecoins like 1USD and 1GBP. 1USD is a stablecoin anchored to the US Dollar, initially available on Ethereum and Aleph Zero. 1GBP is a stablecoin relaunched by Damex and Poundtoken using Archblock’s Stablecoins Issuance Platform. All of Archblock's stablecoins are 100% collateralized with assets held in escrow by regulated financial institutions. They offer near-instant mints and redemptions and are trusted by users in over 100 countries. The stablecoins are built with a focus on transparency and regulatory compliance, utilizing third-party partnerships for external, real-time attestations.
TrueFi Platform
Launched in 2020, Archblock's TrueFi platform serves as an alternative asset management platform. To date, TrueFi has approached $2B in loan originations, offering competitive yields with over 10% APY across diverse portfolios. TrueFi features an on-chain governance mechanism, introduced in 2022, which aims to enhance decision-making and operational transparency. The platform also hosts the Archblock Institutional Platform, introduced in 2023, providing advanced tools for fund managers to create, raise, and manage private funds digitally on the blockchain.
Services for Stablecoin Issuance
Archblock's stablecoin issuance platform includes a comprehensive suite of services designed to facilitate the creation and management of stablecoins. This includes bank-grade customer onboarding, smart contract development, bank integrations, exchange listings, and a white-labeled user-facing application for minting and redeeming stablecoins. Archblock ensures that its stablecoins meet security measures compliant with financial regulations and adhere to KYC/AML policies. The services are designed to offer transparency, cost-efficiency, and 24/7 transactions, promoting financial inclusion and reducing the friction and costs associated with traditional banking.
Acquisitions and Partnerships
In 2021, Archblock acquired Ethworks, which has since been rebranded as Archblock Poland, to bolster its engineering capabilities. The company has established partnerships to enhance the transparency and regulatory compliance of its operations. These include collaborations with third-party firms for real-time attestations and other compliance measures. Archblock's partnerships aim to ensure the stablecoins are fully collateralized and offer transparency and trustworthiness in the digital asset space.