The issuer of the largest U.S. dollar-pegged stablecoin, Tether is expanding its offerings with the introduction of GBPT, a stablecoin pegged to the British pound.
According to a press release, the token will be issued in July as the company’s fifth stablecoin.
Tether’s line up is completed by the U.S. dollar-pegged USDT, euro-pegged EURT, offshore Chinese yuan-pegged CNHT and the Mexican peso-pegged MXNT, which got released in May.
The UK Treasury announced plans to make the country a global crypto hub with the government moving towards stablecoins recognition as a valid form of payment. For Tether, “this initiative, paired with hundreds of millions of people using crypto around the world, makes the United Kingdom a prime location for the next wave of industry innovation.”
Tether Chief Technology Officer Paolo Ardoino said in the statement:
“We believe that the United Kingdom is the next frontier for blockchain innovation and the wider implementation of cryptocurrency for financial markets. We hope to help lead this innovation by providing cryptocurrency users worldwide with access to a GBP-denominated stablecoin issued by the largest stablecoin issuer.
Tether is ready and willing to work with UK regulators to make this goal a reality and looks forward to the continued adoption of Tether stablecoins”.
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Source: Igaming
