BlockChain People: Launch of Pound-Backed Stablecoin

On June 3, 2025, BCP Technologies, a UK-registered cryptocurrency firm, announced the launch of its pound-pegged stablecoin, Tokenised GBP (tGBP). This development follows a 14-month review within the Financial Conduct Authority’s (FCA) regulatory sandbox, marking a significant milestone in the UK’s crypto regulatory landscape.

The launch of tGBP was reported by multiple sources, including cryptopanic.com and cointelegraph.com. BCP Technologies’ CEO highlighted the potential of tGBP as a “live proof-of-concept for future FCA stablecoin regulation.” This suggests that the stablecoin could serve as a model for future regulatory frameworks governing stablecoins in the UK.

Financial Context

As of June 1, 2025, the close price of BlockChain People (BCP) was 0.000665232. The cryptocurrency has experienced significant volatility over the past year, with a 52-week high of 37.6153 on June 6, 2024, and a 52-week low of 0.000551885 on May 28, 2025.

The introduction of tGBP represents a strategic move by BCP Technologies to integrate traditional financial systems with blockchain technology, potentially increasing the adoption and stability of cryptocurrencies in the UK market.