UK-based accountancy consultancy Nephos Group has been appointed proof of reserves attestation partner to Agant, an issuer of the GBPA pound sterling stablecoin.
Under the agreement, Nephos Group will deliver independent ISAE 3000 proof of reserves and attestation services for GBPA.
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The work is intended to help confirm that the sterling-backed stablecoin remains fully reserved on a one-to-one basis.
Agant co-founder and COO Reuben Blamey said: “Trust is fundamental to stablecoin adoption, particularly as institutions begin integrating digital assets into payments, treasury and settlement.
“Independent reserve attestations provide our customers with additional confidence that GBPA is fully backed and correct financial controls are in place.
“We are pleased to partner with Nephos Group, whose expertise in digital asset assurance and accounting makes it well placed to support the next phase of stablecoin growth as the UK moves towards a regulated regime.”
The partnership also creates a broader strategic relationship between the two organisations.
This includes joint industry events and educational programmes aimed at raising standards across the UK’s expanding digital asset ecosystem.
The move comes as the UK progresses towards implementing a regulatory framework for stablecoins.
In this context, independent proof of reserves and attestation is increasingly viewed as a core requirement.
While US dollar-denominated stablecoins have so far led global adoption, sterling continues to play a key role in UK treasury functions, domestic payments and financial settlement.
The GBPA is designed as a transparent, fully backed digital representation of the pound sterling.
It has launched on the Ethereum, Base, Tempo and Solana networks.
For Nephos Group, the appointment marks another step in its expansion into digital asset assurance. The company recently assisted AE Coin’s expansion onto public blockchain infrastructure.
Nephos Group founder and CEO Joe David said: “Proof of reserves is rapidly becoming a baseline requirement for soon-to-be-regulated issuers, not simply an additional layer of assurance.
“We are pleased to support Agant as it helps build trusted sterling-denominated digital payment infrastructure for the UK.”
