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Coinbase has officially listed Tokenised GBP (tGBP), setting April 22 as the launch date for its first British pound-backed stablecoin available to users worldwide. The token is issued by FCA-registered BCP Technologies and is fully backed on a 1:1 basis with cash reserves and short-term UK government bonds, designed to support stability and transparency for users.
The introduction of tGBP on Coinbase is positioned as a direct benefit for UK-based traders and businesses. It enables users to hold, transfer, and transact in a digital representation of the pound without converting funds into US dollar-pegged stablecoins. Coinbase says this can reduce foreign exchange costs and simplify transactions. Through the Coinbase app and exchange, users can buy, sell, convert, send, and receive tGBP.
The listing arrives as the global stablecoin market continues to expand. Total market capitalization has surpassed $320 billion, and in 2025 stablecoins facilitated more than $30 trillion in transactions. The article also notes that stablecoin usage has remained relatively stable despite broader cryptocurrency market volatility.
Industry figures have broadly supported Coinbase’s move. Coinbase CEO Brian Armstrong described stablecoins as one of the most efficient forms of money and pointed to their growing role in the financial ecosystem. Polygon Foundation CEO Sandeep Nailwal argued that countries should adopt stablecoin innovation more quickly, warning that late adoption could create disadvantages similar to those faced by late internet adopters.
Nailwal contrasted traditional cross-border payments—described as potentially costing up to 6% and taking several days—with stablecoin transfers, which he said are nearly instant and significantly cheaper.
While the article is optimistic about tGBP’s prospects, it says future growth may depend on regulatory clarity. The UK’s stablecoin framework is still under development, with full implementation expected by late 2026. The pace at which regulators finalize these rules could influence long-term adoption of pound-backed stablecoins such as tGBP.
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