APT Systems, a software development and fintech company, has announced a major milestone with the successful completion of a third-party technical audit of its stablecoin, Spera.
“We have now taken a major step forward in the preparation for the release of Spera stablecoin,” says Glenda M. Dowie, CEO of APT Systems. “As part of our internal Quality Control, APT Systems engaged a third-party auditor to fully test our Spera stablecoin. The auditors reviewed all code for functionality as described in our whitepaper, as well as performed security checks to search for any flawed code or vulnerabilities.”
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Spera is a stablecoin, meaning it is backed by actual collateral assets so that the value of Spera will always be $1. “Spera is a true stablecoin, backed by U.S. dollars and gold—transparently held by financial institutions, and auditable,” Dowie says. “Stablecoins are an essential tool to fintech, as their value is constant, unlike other digital currencies which can fluctuate widely.”
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APT Systems is developing a wallet for Spera to work seamlessly with its Verifundr digital escrow application, which uses smart contracts in part to serve as a neutral third-party to ensure funds are duly released upon both parties fulfilling their contractual obligations. The blockchain-supported portion of Verifundr makes it ideally suited for escrow and transfer functions, while Spera provides users the protection from volatility while funds are being held in escrow.
“I have in the past compared the development of a true stablecoin to that of a rocket launch—meaning all the pieces must be precisely assembled and fitted before lift-off,” Dowie says. “The successful completion of our technical audit means that the pre-launch systems are ‘A-OK,’ as the astronauts used to say. We are almost ready for take-off.”
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