Tether launches a stablecoin linked to the British pound
Tether, the issuer of the USDT stablecoin, is going to launch a new stable coin tied to the British pound at the beginning of next month.
The stablecoin, dubbed GBPT, will initially be available on the Ethereum blockchain, Tether said in a statement today.
This is the fifth stable fiat-linked Tether coin after USDT pegged to the US dollar, EURT pegged to the euro, CNHT offshore stablecoin pegged to the Chinese yuan and the recently launched MXNT pegged to the Mexican peso.
"We believe that the UK is the next frontier for blockchain innovation and wider adoption of cryptocurrencies in financial markets," said Paolo Ardoino, technical director of Tether. We hope to help lead this innovation by giving cryptocurrency users around the world access to a stable coin denominated in pounds sterling and issued by the largest issuer of stablecoins."
While Tether has several fiat-linked stablecoins, its stablecoin is USDT, denominated in US dollars. it remains the most popular, although recently, amid the panic over the collapse of the algorithmic stablecoin terraUSD (UST) and the general decline of the market, significant repayment volumes have been observed in it.
According to The Block Data Dashboard, USDT remains the largest stablecoin in the world, and its current total issue volume is more than 77 billion.
https://coin-signal.com/cryptonews/tether-launches-a-stablecoin-linked-to-the-british-pound/
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