Kraken lists Tokenised GBP (tGBP)
Tokenised GBP (tGBP), has been listed on Kraken, one of the world’s leading cryptocurrency exchanges. The listing marks a significant milestone for the adoption of compliant GBP stablecoins in the United Kingdom.
Despite recent discussions by the Bank of England regarding potential holding limits on systemic stablecoins, we remain optimistic about the long-term outlook of their GBP-denominated stablecoin:
“A £10 billion market capitalisation of tGBP would represent roughly 0.3% of M4 (£2,800 billion) and would therefore qualify as a non-systemic stablecoin under FCA supervision, for which no specific limits have been set.”
The success of USD stablecoins among both retail and institutional use cases has created a blueprint for tGBP’s success.
“Over the past year we’ve seen stablecoins combine with DeFi to power the next wave of retail adoption – from crypto-backed loans and yield products to payments,” said Benoit Marzouk (BCP's CEO).
“Most of this innovation has been concentrated in the US with USDC, but now, with tGBP listed on a leading exchange like Kraken, UK users can finally access these powerful frontier technologies.”
Over £1.1 million tGBP are currently minted across the Ethereum, Base, Avalanche, Polygon, BNB Chain, and Solana networks. With this latest milestone, the Tokenised GBP team is focused on expanding their institutional footprint along with a robust GBP-denominated DeFi ecosystem, enabling users to swap into other digital assets, take GBP-based crypto-backed loans, and earn on-chain GBP yield across leading DeFi protocols.
tGBP available now on Kraken https://www.kraken.com/en-gb/learn/buy-tokenised-gbp-tgbp
