BCP Technologies, a UK-based cryptocurrency firm, has launched its own stablecoin called tGBP. This British pound-backed stablecoin aims to address the limited availability of such assets in the market and offers a solution for businesses and individuals seeking an efficient alternative to traditional banking. The stablecoin is backed 1:1 with British pounds held in segregated bank accounts, ensuring transparency and stability. 2023 marked a significant shift for BCP Technologies, which transitioned from offering cash-based services to a fully digital platform after receiving FCA registration in 2021. The launch of tGBP follows a rigorous process that involved submission through the FCA Connect portal and a pilot run within the FCA regulatory sandbox, ensuring compliance with regulations and consumer safety. The stablecoin is available for purchase on BCP Markets, an exchange registered under the FCA’s supervision, with plans to list on major cryptocurrency exchanges in the coming weeks. tGBP’s potential applications span across various fields, including international transfers, real-world asset settlements, and crypto lending platforms. With a market capitalization of less than $500,000 for GBP stablecoins combined, tGBP aims to offer an alternative to traditional banking solutions and potentially displace the use of e-money in the UK.