Tokenised GBP (tGBP), a fully GBP-backed stablecoin issued by FCA-registered firm BCP Technologies Ltd, has been listed on Kraken, one of the world’s leading cryptocurrency exchanges. The listing marks a major step forward for compliant GBP stablecoins and the adoption of regulated digital assets in the United Kingdom.
tGBP is currently the only GBP-pegged stablecoin issued by a firm registered with the UK Financial Conduct Authority (FCA). BCP Technologies successfully completed the FCA’s regulatory sandbox programme before the stablecoin’s launch, underscoring its commitment to regulatory transparency and consumer protection.
Unlocking GBP DeFi innovation
The listing on Kraken is designed to provide UK users with compliant access to frontier technologies like decentralised finance (DeFi), which have largely been dominated by US-denominated stablecoins like USDC.
Benoit Marzouk, founder and chief executive officer of BCP Technologies, expressed confidence in the long-term outlook for GBP-denominated stablecoins. Marzouk calculated that a £10billion market capitalisation for tGBP would still represent roughly 0.3% of M4 (£2,800billion), qualifying it as a non-systemic stablecoin under FCA supervision, for which no specific holding limits have been set.
Marzouk noted that stablecoins combined with DeFi have powered the next wave of retail adoption, from crypto-backed loans and yield products to payments. “Now, with tGBP listed on a leading exchange like Kraken, UK users can finally access these powerful frontier technologies,” he added.
Multi-Chain integration and future plans
Over £1.1million worth of tGBP has already been minted across multiple major blockchains, including Ethereum, Base, Avalanche, Polygon, BNB Chain, and Solana.
Following this milestone, the Tokenised GBP team plans to expand institutional partnerships and strengthen GBP-denominated DeFi liquidity across leading blockchain protocols. This will enable users to swap into other digital assets, take GBP-based crypto-backed loans, and earn on-chain GBP yield within a compliant framework.
tGBP operates across multiple blockchains, enabling GBP-denominated digital asset transactions, DeFi applications, and payment solutions within a regulated and transparent ecosystem.
