back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

APT Systems announces release of Spera stablecoin to Testnet

By Edlyn Cardoza

December 20, 2021

  • APT Systems
  • Cryptocoin
  • Distributed Ledger
Share

APT Systems, FinTech, Spera stablecoin, Testnet, MainNet, USAAPT Systems, Inc., a software development and FinTech company, announced it had deployed its Spera stablecoin onto the Testnet as part of its internal testing and quality assurance prior to the release of Spera onto the MainNet for distribution.

“Releasing our Spera stablecoin onto the Testnet represents a major milestone in our development efforts,” says Glenda Dowie, Founder and Chief Executive Officer of APT Systems, Inc. “During this testing phase we perform a final quality assurance pass prior to bringing in third parties for independent security verification.”

Testnet is an alternative blockchain used for validating cryptocoin functionality, and Testnet coins are distinctively different from actual coins as they have no value. But their performance can be measured and evaluated prior to the release of cryptocoins to the MainNet, where actual transactions take place in the distributed ledger, and the cryptocurrency possesses real economic value.

Spera is a true stablecoin, which means that an actual currency or commodity backs its market value. In Spera’s case, its one-dollar value is supported by a combination of US dollars and gold. APT Systems is also developing a wallet to hold Spera that will work seamlessly with its Verifundr digital escrow application. Verifundr uses smart contracts to serve as a neutral third party to ensure funds are duly released upon both member parties fulfilling their contractual obligations.

The blockchain-supported architecture of Verifundr makes it ideally suited for escrow transactions, while Spera provides users with protection from volatility through the use of a stablecoin.

“All of us at APT Systems—including our development team—are thrilled to see Spera functioning on the Testnet,” Dowie says. “We are looking forward to completing our QA and validation work and then releasing Spera onto the MainNet.”

Recently, IBS Intelligence reported that APT Systems, Inc., a software development and FinTech company, announced that it will move gold operations directly under APT which was further facilitated by the sale of its subsidiary, AUREX Trading and Recovery.

Previous Article

December 20, 2021

Matrixport launches Automated Grid Trading Service

Read More
Next Article

December 20, 2021

Sovcombank launches ESG-linked deposit for corporate clients

Read More










IBSi Daily News Analysis

September 26, 2022

APT Systems

How will corporate banking predictions affect technology buyers?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

September 23, 2022

9 FinTech tweets you should see!

Read More

September 23, 2022

Liminal introduces the first-ever ‘Hot Wallet as a Service’

Read More

September 22, 2022

HesabPay successfully migrates to Algorand Blockchain

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022