British Pound-Backed Stablecoin Launched by BCP Technologies

In a significant development in the cryptocurrency market, BCP Technologies, a UK-registered firm, has unveiled the first British pound-denominated stablecoin, Tokenised GBP (tGBP). This launch marks a milestone as it is the first issuance of a UK-regulated stablecoin, as reported by multiple sources including Coindesk and Cointelegraph on June 3, 2025.

The stablecoin, tGBP, was introduced following a comprehensive 14-month review process, which included a month-long participation in the Financial Conduct Authority’s (FCA) regulatory sandbox. This rigorous review concluded on May 31, 2025, paving the way for the stablecoin’s launch. The introduction of tGBP is particularly noteworthy as it diversifies the stablecoin market, which is predominantly dominated by USD-pegged tokens like Tether’s USDT and Circle’s USDC.

BCP Technologies’ CEO, Benoit Marzouk, emphasized that the launch of tGBP could serve as a “live proof-of-concept for future FCA stablecoin regulation.” This statement underscores the potential regulatory implications and the role of tGBP in shaping future stablecoin frameworks within the UK.

The stablecoin is now operational on BCP Technologies’ crypto trading platform, BCP Markets, and is accessible to customers who have passed Know Your Customer (KYC) checks. Major exchanges are expected to list tGBP in the coming weeks, with details of two large exchanges being finalized, according to Marzouk.

The launch of tGBP follows a period of rapid growth in the stablecoin market, which boasts a collective market cap of around $250 billion. The introduction of a British pound-backed stablecoin not only expands the stablecoin ecosystem but also highlights the increasing regulatory engagement in the cryptocurrency space, particularly within the UK.

As the market anticipates the listing of tGBP on major exchanges, the stablecoin’s performance and adoption will be closely watched, potentially setting a precedent for future stablecoin initiatives in the UK and beyond.