UK's BCP Technologies Unveils FCA-Approved British Pound Stablecoin, tGBP

BCP Technologies, an FCA-registered cryptocurrency firm, has officially launched tGBP, a new stablecoin pegged to the British pound. This marks a significant step for the UK's digital asset landscape, offering a regulated and transparent option for on-chain sterling transactions after a rigorous 14-month review process and participation in the FCA regulatory sandbox.

tokenisedgbp.com

BCP Technologies Unveils tGBP: A New Era for British Pound Stablecoins

BCP Technologies, a UK-registered cryptocurrency firm, has announced the launch of its British pound-backed stablecoin, Tokenised GBP (tGBP). This launch follows extensive regulatory engagement, including a 14-month submission process and a one-month review within the Financial Conduct Authority's (FCA) regulatory sandbox, concluding on May 31, 2025. The tGBP is now live on BCP Technologies' crypto trading platform, BCP Markets, accessible to customers who complete Know Your Customer (KYC) checks.

Regulatory Approval and Market Impact

The introduction of tGBP is particularly noteworthy as it claims to be the first UK-regulated stablecoin denominated in British pound sterling. This development aligns with the FCA's ongoing public consultation on stablecoin and crypto custody rules, which commenced on May 28. Benoit Marzouk, CEO of BCP Technologies, views tGBP as a "live proof-of-concept for future FCA stablecoin regulation," highlighting the firm's close collaboration with the regulatory body.

The launch addresses a significant gap in the market, as pound-backed stablecoins have historically been limited in availability and adoption compared to their USD counterparts.

Technical Specifications and Use Cases

tGBP is issued as an ERC-20 token on the Ethereum blockchain, ensuring broad compatibility within the decentralized finance (DeFi) ecosystem. Each tGBP token is backed 1:1 by reserves held in a segregated account at a UK-regulated financial institution, guaranteeing full redeemability for sterling at any time. The company also plans to explore backing tGBP with short-term UK government bonds in the future, in line with FCA discussions.

Key use cases for tGBP include:

Self-custody: Providing individuals and corporations with an alternative to traditional bank accounts for holding GBP.
Cross-border payments: Facilitating instant and frictionless international transfers, bypassing traditional banking delays and fees.
Institutional collateral management: Offering a stable asset for collateral in crypto-native lending and settlement processes.
Tokenized asset settlement: Serving as the primary pound rail for settling tokenized assets such as bonds, securities, and real estate.
DeFi integration: Enabling participation in lending, borrowing, and yield farming protocols with a GBP-backed asset.

Future Outlook

BCP Technologies, formerly known as BitcoinPoint, has been an FCA-registered crypto asset service provider since 2021. The firm's evolution from a platform democratizing Bitcoin access to a regulated stablecoin issuer underscores its commitment to integrating digital assets with mainstream finance. Marzouk anticipates that tGBP will abstract the complexity of blockchain with the familiarity of a GBP denomination, ultimately aiming to replace GBP e-money with their stablecoin. The company is also finalizing details with two major exchanges for future tGBP listings, further expanding its reach and accessibility.

Sources

UK-Regulated Crypto Firm BCP Technologies Unveils GBP Stablecoin, CoinDesk.
New GPB-backed stablecoin tGBP goes live on BCP Markets, Cointelegraph.
BCP Technologies rolls out tGBP, British pound stablecoin with FCA approval, Cryptopolitan.
UK's BCP Debuts British Pound-Backed Stablecoin, FinanceFeeds.
FCA-Registered Cryptoasset Firm Launches GBP Stablecoin, Disruption Banking.

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