- Tether Limited, publisher of the largest stablecoin by market cap USDT, is launching a new stablecoin in early July.
- “GBPT” will be pegged to the British Pound Sterling.
- “Initial blockchain support” will “include Ethereum,” Tether said in one press release.
- Tether is responding to statements by the British Treasury to “make the country a global crypto hub”. To that end, “stablecoins are to be recognized as valid means of payment”.
- “The creation of GBPT will bring the British pound to the blockchain and provide a faster, cheaper option for wealth transfers,” the company said.
- In addition to the USDT and GBPT pegged to the US dollar, Tether also sells the euro-pegged EURT, as well as CNHT, which tracks the Chinese yuan, and MXNT, which tracks the Mexican peso.
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