UK-Regulated Crypto Firm BCP Technologies Unveils GBP Stablecoin
BCP Technologies, a cryptocurrency company registered in the UK, is claiming bragging rights for issuing the first stablecoin denominated in British pound sterling, Tokenised GBP (tGBP), under the UK’s regulatory ambit.
The launch of tGBP follows a 14 month review including one month participation in the FCA regulatory Sandbox, which concluded on 31 May, the company said on Tuesday.
Stablecoins, with around $250 billion in collective market cap, are one of the fastest growing areas within crypto. But the vast majority of these tokens are pegged to USD, in a market currently dominated by Tether’s USDT, the largest, and Circle’s USDC, the second biggest.
Each tGBP token is backed 1:1 by reserves held in a segregated account at a…
