• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Binance Founder CZ Receives Presidential Pardon From Donald Trump
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Binance Founder CZ Receives Presidential Pardon From Donald Trump
Tether

Tether To Roll Out Token Pegged To The British Pound Next Month

Christian Encila
by Christian Encila
3 years ago
·
Posted in Stablecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Tether Operations, the issuer of the world’s biggest dollar-pegged stablecoin, will launch a new token backed by the British Pound Sterling this coming July,

The development follows Tether’s recent roll-out of MXNT, a crypto asset pegged to the Mexican peso.

According to a corporate statement released on Thursday, the stablecoin (GBPT) would first be supported on the Ethereum network.

The stablecoin will have a 1:1 peg to the British Pound Sterling in an effort to make asset transactions faster and more inexpensive.

Tether is notable for its stablecoin pegged to the US dollar, USDT, though the crypto company’s lack of transparency regarding the USD reserve that backs the USDT continues to generate considerable controversy.

Suggested Reading | Dogecoin Increasingly Tied To Terrorism And Child Sex Abuse Material, Research Shows

Nevertheless, Tether proceeded to expand its products, introducing additional stablecoins linked to the euro, Mexican peso, and Chinese yuan.

Tether Links Up With British Pound

When used as a safe haven for crypto traders, GBPT will be an Ethereum-based ERC-20 coin that can be easily integrated into wallets, exchanges, and other smart contracts for use.

Image: The European Business Review

USDT is the biggest stablecoin with a market capitalization of almost $69 billion, and the Polygon network has launched the project. ver 12 billion USDT have been taken from circulation during the past two months.

Stablecoins are cryptocurrencies that are designed to be redeemed for a predetermined amount of a less volatile monetary product, such as fiat cash. These coins are intended to give optimizations and utility to blockchain payments that are now available with traditional currencies.

UK Regulators Give Tether Some Love

According to the release, GBPT will be developed by the team of engineers responsible for Tether USDT and will operate under Tether.to:

“Tether is ready and eager to collaborate with U.K. regulators to make this objective a reality, and the company anticipates the continued acceptance of Tether stablecoins.”

Crypto total market cap at $887 billion on the daily chart | Source: TradingView.com

The company emphasized that its decision to introduce a GBP-pegged stablecoin was prompted by the United Kingdom Treasury’s goal to transform the country into a cryptocurrency hotspot.

The launch of the Sterling stablecoin coincides with significant losses in the overall cryptocurrency market, which have caused crypto companies to lose billions of dollars worth of virtual assets.

Suggested Reading | Citibank, Swiss Crypto Firm Partner To Develop Bitcoin Custody Services

While European Union legislators are in the midst of establishing guidelines for stablecoin issuers, British officials have not yet determined whether to launch a digital counterpart of the British pound.

However, the government is apparently investigating the use cases and risks associated with proceeding. In addition, the Bank of England established a new unit devoted to researching a central bank digital currency.

Featured image from Altcoin Buzz, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

stablecoin

Chinese Tech Titans Retreat From Hong Kong Stablecoin Launch After Beijing Warning

2 days ago
Stablecoins

Stablecoin Exodus: Exchange Outflows Hit Highest Level Since May 2021

1 week ago
Visa Stablecoins

Visa Pilots Stablecoin Prefunding To Modernize Cross-Border Payments

3 weeks ago
Euro Stablecoins

Nine Banks Unite On Euro Stablecoin, Eyeing Rollout In Second Half Of 2026

3 weeks ago
Stablecoin USDH w ekosystemie Hyperliquid

Nowy stablecoin USDH od Hyperliquid. Jak zyska na tym spółka HYLQ?

4 weeks ago
Stablecoins CFTC

Stablecoins Recognized As Future Collateral: CFTC Opens Public Consultation

4 weeks ago
Please login to join discussion

Premium Sponsors

Press Releases

  • ORIGIN Protocol's LGNS Achieves Historic Milestone: Liquidity Tops $194 Million, Reclaiming Title as Global Leader in DeFi

    ORIGIN Protocol’s LGNS Achieves Major Milestone...

    1 day ago
  • bonus kcex

    Bonus KCEX: promozione da $21.000 con un bonus deposito del...

    1 day ago
  • Maxi Doge

    Защо Maxi Doge може да се окаже...

    1 day ago
  • 挖 1 枚比特幣耗電可供 61...

    1 day ago
  • KCEX стартира бонус за търговия от...

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.