Tether to launch GBPT stablecoin pegged to British pound sterling
Major stablecoin company Tether is expanding its stablecoin offering with a new cryptocurrency pegged to the British pound sterling (GBP).Tether officially announced on June 22 that its upcoming GBP-pegged stablecoin, GBPT, will launch in early July and will initially support the Ethereum blockchain.GBPT will be a stable digital currency pegged on the 1:1 ratio to the GBPT, aiming to provide a faster and cheaper option for asset transfers.GBPT joins a family of four other fiat currency-pegged Tether tokens, including the largest stablecoin by market capitalization, USDT.
Other stablecoins include the euro-pegged EURT, the offshore Chinese yuan-egged CNHT as well as the recently launched MXNT, the Mexican peso-pegged stablecoin.According to the announcement, GBPT will be built by the team of developers behind Tether USDT and operate under its main website, Tether.to.Tether chief technology officer Paolo Ardoino pointed out the the United Kingdom is a major location for the next wave of industry transformation, adding:The announcement also mentions that HM Treasury in April 2022 announced plans to make the country a global cryptocurrency hub and bring stablecoins into its regulatory framework.
Read more on cointelegraph.com
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