New GPB-backed stablecoin tGBP goes live on BCP Markets
Summary
BCP Technologies has launched the Tokenised GBP (tGBP), a British pound-backed stablecoin, after a 14-month review in the Financial Conduct Authority’s (FCA) regulatory sandbox. tGBP is now available on BCP Markets and will be listed on major exchanges soon. The stablecoin is fully backed by cash in a segregated bank account, with each token representing 1 British pound and issued as an ERC-20 token on the Ethereum blockchain. BCP Technologies aims to back tGBP with UK government bonds in the future. The stablecoin targets various use cases, including self-custody, cross-border payments, and decentralized finance lending. The UK market for pound stablecoins is limited, with only a few existing options.
