Archblock

Archblock is a company specializing in blockchain technology and stablecoin development. The company created TrueFi, an unsecured lending protocol, and previously developed TrueUSD (TUSD), a fiat-backed stablecoin that was later sold to Techteryx. Archblock manages a portfolio of fiat-backed stablecoins pegged to various currencies, including GBP, CAD, and AUD, with plans to introduce an HKD stablecoin. These stablecoins are accessible on 12 blockchains and over 90 exchanges. In April 2024, Archblock launched 1USD, the first stablecoin on Aleph Zero, a privacy-focused layer-1 blockchain. The company also offers white-label stablecoin development services for partners, including bank-grade customer onboarding, smart contract development, and bank integration.

Archblock's stablecoin management system is designed to cater to businesses, institutional users, and retail users. The company emphasizes transparency and regulatory compliance, partnering with third parties for real-time independent attestations, external audits, and proof-of-reserves. Archblock aims to leverage blockchain technology to democratize financial solutions and overcome limitations of traditional banking systems. The company's stablecoins facilitate 24/7 transactions, reduce friction and costs associated with traditional banking, and promote financial inclusion.

Key customers and partnerships

Archblock has partnered with Adapt3r, a subsidiary of alternative asset manager MJL Capital, to bring US-regulated community banks to decentralized finance (DeFi). This collaboration aims to expand access to on-chain credit products and lower the cost of capital for traditional financial institutions. Marcus Leanos, founder and chief investment officer of MJL Capital, stated that they have a pipeline of banks ranging from USD 500 million to USD 5 billion in assets.

In February 2023, Archblock announced its integration with Chainlink's proof-of-reserves system to enhance the transparency and verifiability of its stablecoin. The Network Firm (TNF), an independent accounting firm, was selected to aggregate oracle data for TUSD, collecting real-time data on all reserve holdings.