BCP Technologies, a UK-based crypto firm, has officially launched tGBP, a fully-backed British pound stablecoin, after completing a 14-month review in the FCA’s regulatory sandbox.
Key Highlights
- tGBP is now live on BCP Markets, a platform operated by BCB Technologies.
- Backed 1:1 with GBP, held in a segregated bank account.
- Issued as an ERC-20 token on Ethereum.
- Positioned as a potential “live proof-of-concept” for upcoming FCA stablecoin regulation.
- Expected listings on two major exchanges in the coming weeks.
Why It Matters
This launch is one of the most regulatory-aligned pound stablecoin rollouts to date, positioning tGBP as a potential blueprint for future UK crypto regulation.
“BCP works closely with the FCA and will participate in their July 4 roundtable,” said CEO Benoit Marzouk.
Use Cases for tGBP
- Institutional collateral management
- Cross-border payments
- Self-custody for retail & corporates
- DeFi lending & settlements
- Tokenised assets like bonds, real estate
BCP plans to eventually back tGBP with short-term UK government bonds, aligning with FCA proposals.
UK Pound Stablecoin Landscape
With limited competition in the GBP stablecoin space—VGBP, CGBP, GBPT, and GBPA—tGBP enters a market with less than $500K in total tracked capitalization, according to CoinGecko.
“Our vision is to replace GBP e-money with a blockchain-native GBP stablecoin,” said Marzouk.
Outlook
As the FCA prepares new regulations, tGBP may become a key player in the UK’s regulated crypto economy. Its institutional focus and strong compliance foundation could help it lead the next wave of pound-denominated digital finance.