Overview

Click to expand overview

British pound-pegged Tether to ruffle some feathers in the UK? Source link. British pound-pegged Tether to ruffle some feathers in the UK? Source link. Get access to our best features. Get Tether, the world’s largest stablecoin issuer, said it will introduce a token pegged to the British pound next month. The stablecoin (GBPT), according to a company Tether tokens exist as a digital token built on multiple blockchains. All Tether tokens (USD₮) are pegged at 1-to-1 with a matching fiat currency and are backed 100% by Tether’s reserves. We In a recent blog post, the platform noted that GBP₮ would be pegged 1:1 to the British Pound Sterling. Tether intends to put the British Pound on the blockchain to provide Major crypto firm Tether said on Wednesday it will launch next month a stablecoin pegged to the British pound, a move that comes as London draws up plans to As a stable digital asset, GBPT is pegged 1:1 to the British Pound Sterling. According to the Tether announcement, GBPT will be developed by the same developers as Tether is set to launch the GBP₮ token pegged to the British Pound Sterling on its blockchain Tether. Tether’s proprietary software, tether.to, serves as the foundation for

British Pound-Pegged Tether to Ruffle Some Feathers in the UK?

Major crypto firm Tether said on Wednesday it will launch next month a stablecoin pegged to the British pound, a move that comes as London draws up plans to solidify its position in the digital asset landscape. But will this British pound-pegged Tether ruffle some feathers in the UK? Source link.

What is GBPT?

Get Tether, the world’s largest stablecoin issuer, said it will introduce a token pegged to the British pound next month. The stablecoin (GBPT), according to a company release, is designed to provide a stable digital asset, GBPT is pegged 1:1 to the British Pound Sterling.

Tether: A Foundation Built on Stability

Tether’s proprietary software, tether.to, serves as the foundation for all their operations. All Tether tokens (USD₮) are pegged at 1-to-1 with a matching fiat currency and are backed 100% by Tether’s reserves. Tether tokens exist as a digital token built on multiple blockchains.

Why a British Pound Stablecoin?

In a recent blog post, the platform noted that GBP₮ would be pegged 1:1 to the British Pound Sterling. Tether intends to put the British Pound on the blockchain to provide a more accessible and versatile digital representation of the currency.

Implications for the UK Market

The introduction of GBP₮ could have significant implications for the UK market, potentially offering increased efficiency in cross-border transactions and access to decentralized finance (DeFi) applications. However, British pound-pegged Tether to ruffle some feathers in the UK? Source link. The move will likely attract regulatory scrutiny as the UK government develops its approach to stablecoins.

Built by the Tether Team

According to the Tether announcement, GBPT will be developed by the same developers as Tether is set to launch the GBP₮ token pegged to the British Pound Sterling on its blockchain.