The FCA – registered BCP has launched a British pound – backed stablecoin called tGBP. Here are the details:
Background: BCP Technologies, a UK – registered cryptocurrency company, has been under the scrutiny of the UK’s Financial Conduct Authority (FCA) regulatory sandbox for 14 months. It was formerly known as BitcoinPoint and has been an FCA – registered crypto – asset service provider since 2021.
Launch Announcement: The company officially announced the launch of its tokenized British pound (tGBP) stablecoin on June 3, 2025. The announcement was shared with Cointelegraph.
Trading Platform: tGBP is now available on the BCP Markets cryptocurrency trading platform operated by BCB Technologies. Customers who have passed KYC (Know Your Customer) verification can use it immediately. Additionally, several major exchanges are expected to list the stablecoin in the coming weeks.
Technical Details: tGBP is an ERC – 20 token, which means it is initially issued on the Ethereum blockchain. Each tGBP token is precisely backed by £1 in cash held in a segregated bank account, ensuring a 1:1 peg. In the future, BCP plans to back tGBP with short – term UK government bonds, which is in line with the guidance of the FCA discussion paper.
Use Cases: The stablecoin aims to serve a wide range of applications, including retail and corporate self – custody services as an alternative to banks, cross – border payment solutions, institutional collateral management systems, and decentralized finance lending platforms. It is also expected to become a major pound – denominated trading channel for settling tokenized assets such as bonds, securities, or real estate.
Significance: The launch of tGBP comes at a time when the FCA initiated a public consultation on May 28, 2025, regarding new regulations for stablecoin issuers and cryptocurrency custody service providers. According to the CEO of BCP Technologies, tGBP may be regarded as a “live proof – of – concept for future FCA stablecoin regulation”. The company will participate in the FCA’s round – table discussion on July 4, 2025, to provide insights based on its experience in launching tGBP.
Related topic:
- ZachXBT: The stolen funds from the crypto exchange BitoPro are suspected to have been leaked out and sold through DEX
- MAS: Unlicensed crypto service providers must cease providing services to overseas customers by the end of this month
- More than 2.7 billion US dollars worth of tokens are set to be unlocked in June, and the crypto market may be in turmoil
