Tether, the issuer of the popular USDT stablecoin, has launched a new stablecoin pegged to the British pound, called GBPT.
This new offering is part of Tether’s strategy to expand its suite of fiat-pegged digital currencies, providing users with more options for transacting in different currencies.
GBPT is built on the Ethereum blockchain and is fully backed by reserves, according to Tether.
The introduction of GBPT aims to cater to the growing demand for stable digital currencies in the United Kingdom and Europe, where regulatory frameworks for digital assets are becoming increasingly defined.
The launch of GBPT follows the success of Tether’s other stablecoins, including those pegged to the U.S. dollar, euro, and Chinese yuan.
