From Cointelegraph

June 3, 2025 4:20 am:

BCP Technologies, a UK-based crypto firm, launches a new GBP-backed stablecoin after regulatory sandbox review. Tokenised GBP (tGBP) is live on BCP Markets and will be listed on major exchanges soon. FCA consultation on stablecoin rules coincides with tGBP release, positioning it as a potential model for future regulation.

TGBP is fully backed by cash in a segregated account, with each token representing 1 GBP. Initially issued on Ethereum as an ERC-20 token, BCP plans to back tGBP with UK government bonds in the future. BCP Technologies, formerly BitcoinPoint, is an FCA-registered crypto service provider.

tGBP targets various use cases, including self-custody, cross-border payments, institutional collateral, and DeFi lending. It aims to be the primary pound rail for settling tokenised assets like bonds and real estate. BCP’s stablecoin offers stability, instant transfers, and aims to simplify blockchain adoption with a familiar GBP denomination.

BCP’s pound stablecoin enters a market with limited competition, as only two other GBP stablecoins have a combined market cap of less than $500,000. Other pound stablecoin projects exist, but Tether’s attempt to launch a GBP stablecoin in 2022 did not gain significant traction. The launch of tGBP adds to the growing ecosystem of pound-backed stablecoins.

Read more at Cointelegraph: New GPB-backed stablecoin tGBP goes live on BCP Markets