Tether’s new British pound sterling-pegged stablecoin GBPT will launch in early July and initially support the Ethereum blockchain.
According to the announcement, GBPT will be built by the team of developers behind Tether USDT and operate under its main website,“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 U.K. regulators to make this goal a reality and looks forward to the continued adoption of Tether stablecoins”.
Tether chief technology officer Paolo Ardoino pointed out the the United Kingdom is a major location for the next wave of industry transformation, adding: The announcement also mentions that HM Treasury in April 2022 announced plans to make the country a global cryptocurrency hub and bring stablecoins into its regulatory framework. The United Kingdom's Economic and Finance Ministry also planned to amend its regulatory framework to