BCP Technologies has launched the first British pound-backed stablecoin issued by an FCA-registered crypto firm, marking a major milestone in the UK’s digital finance landscape. The new token, known as tGBP, is fully backed 1:1 by reserves held in a segregated account at a UK-regulated financial institution, ensuring that every token can be redeemed for sterling at any time.
Following over a year of development—including a month within the Financial Conduct Authority’s (FCA) regulatory sandbox—the tGBP is now live. Unlike most existing GBP stablecoins, which are issued offshore with low liquidity, tGBP is designed to leverage UK financial infrastructure for secure minting and redemption while utilizing blockchain technology to ensure high speed and flexibility.
BCP’s CEO, Benoit Marzouk, emphasized the versatility of the stablecoin. He stated that tGBP can serve a wide range of use cases—from self-custody options for individuals and businesses looking for an alternative to traditional banks, to cross-border payments and DeFi lending protocols. It may also serve institutional purposes, such as collateral management and facilitating tokenised asset settlements for securities, bonds, or real estate.
As the global stablecoin market continues to grow, BCP hopes to position tGBP as a reliable, regulated, and liquid British pound option that bridges traditional finance and blockchain ecosystems.