Tether to Launch New Pound Sterling-Backed Stablecoin

Jun 22, 2022

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Tether to Launch New Pound Sterling-Backed Stablecoin

Originally posted here.
By: Adewumi Victor

Overview

Tether announced today that it would start a sterling-backed stablecoin next month. This announcement comes after the UK decided to regulate the stablecoin sector in readiness for its attempt to turn London into a world crypto hub. This new stablecoin by Tether will be launched in early July and named GBPT. The stablecoin will be pegged at 1:1 to the pound sterling. The GBPT will also provide traders with a cheaper and faster way of transacting.

The GBPT stablecoin will be the fourth stablecoin supported by Tether after the euro-pegged EURT, the Chinese yuan-pegged CNHT, and …

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