According to a report from Cointelegraph on June 3, deep tide TechFlow announced that BCP Technologies, a cryptocurrency company registered with the UK Financial Conduct Authority (FCA), has launched the pound stablecoin tGBP on June 3. After 14 months of review in the FCA regulatory sandbox, tGBP officially went live. tGBP is issued as an ERC-20 Token, fully backed 1:1 by cash in a segregated bank account, with plans to be linked to UK short-term government bonds in the future.
BCP Technologies CEO Benoit Marzouk stated that tGBP can be viewed as a “real-time proof of concept for future FCA stablecoin regulation.” The target application scenarios for this stablecoin include cross-border payments, institutional collateral management, and DeFi lending, and it is expected to become the main pound channel for tokenized asset settlement.
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