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Crypto firm launches first ever sterling-backed stablecoin in the UK

British pound note
The firm says the coin is redeemable for pound sterling at anytime. Photo: Matt Cardy/Getty Images
Hameed Shuja profile image

Hameed Shuja

1 min read

The launch comes as the UK steps up efforts to introduce a regulatory framework for digital assets.

The first ever British pound sterling-backed stablecoin has been launched by an FCA-registered crypto firm, according to multiple reports.

Tokenised GBP (tGBP) has been launched by BCP technologies and is said to be “backed 1:1 by reserves held in a segregated account at a UK-regulated financial institution,” CoinDesk has reported.

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