The first stablecoin pegged to the British Pound officially launches in the UK

The stablecoin market has just welcomed a new milestone as BCP Technologies – a company registered with the Financial Conduct Authority (FCA) – announces the launch of Tokenised GBP (#tGBP ), the first stablecoin issued under the legal framework of the UK, pegged to the British Pound (GBP).

After 14 months of thorough evaluation, including 1 month of testing in the FCA's Sandbox, tGBP officially launched at the end of May. Each token is backed 1:1 by real British Pounds, held at a licensed financial institution in the UK, and can be redeemed at any time.

While most stablecoins currently on the market – such as USDT and $USDC – are pegged to the US Dollar, tGBP marks an important step in expanding the choice of stablecoins based on local currency, enabling investors and businesses in the UK to access crypto in a more familiar and safer way.

BCP Technologies CEO, Mr. Benoit Marzouk, shared: "Our vision is to simplify blockchain by bringing the British Pound onto a digital platform, gradually replacing traditional electronic #GBP with stablecoin." Currently, the exchange rate of the GBPUSD pair is 1.353, up 12% from the low of 1.2098 on 13/01/2015 (data from #FXCE ), proving that the British Pound is still a very good safe-haven currency for large investors.

This event not only opens a new direction for non-Dollar stablecoins but also solidifies the UK's position in creating a clear legal framework for digital assets. #anhbacong