BCP Launches FCA-Backed British Pound Stablecoin tGBP on Ethereum

BCP Technologies, a UK-based crypto firm, has officially launched tGBP, a fully-backed British pound stablecoin, after completing a 14-month review in the FCA’s regulatory sandbox.

Key Highlights

• tGBP is now live on BCP Markets, a platform operated by BCB Technologies.
• Backed 1:1 with GBP, held in a segregated bank account.
• Issued as an ERC-20 token on Ethereum.
• Positioned as a potential “live proof-of-concept” for upcoming FCA stablecoin regulation.
• Expected listings on two major exchanges in the coming weeks.

Why It Matters

This launch is one of the most regulatory-aligned pound stablecoin rollouts to date, positioning tGBP as a potential blueprint for future UK crypto regulation.

“BCP works closely with the FCA and will participate in their July 4 roundtable,” said CEO Benoit Marzouk.

Use Cases for tGBP

• Institutional collateral management
• Cross-border payments
• Self-custody for retail & corporates
• DeFi lending & settlements
• Tokenised assets like bonds, real estate

BCP plans to eventually back tGBP with short-term UK government bonds, aligning with FCA proposals.

UK Pound Stablecoin Landscape

With limited competition in the GBP stablecoin space—VGBP, CGBP, GBPT, and GBPA—tGBP enters a market with less than $500K in total tracked capitalization, according to CoinGecko.

“Our vision is to replace GBP e-money with a blockchain-native GBP stablecoin,” said Marzouk.

Outlook

As the FCA prepares new regulations, tGBP may become a key player in the UK’s regulated crypto economy. Its institutional focus and strong compliance foundation could help it lead the next wave of pound-denominated digital finance.