UK’s tGBP Stablecoin Listed on Kraken

Jan 14

Tokenised GBP (tGBP), the FCA-registered GBP-backed stablecoin, launches on Kraken, enabling compliant UK users to access DeFi, crypto-backed loans, and on-chain GBP yield while supporting broader adoption of regulated digital assets.

Tokenised GBP (tGBP), a fully GBP-backed stablecoin issued by FCA-registered BCP Technologies Ltd, has been listed on Kraken, one of the world’s leading cryptocurrency exchanges.

This listing marks a major step forward for compliant GBP stablecoins and the wider adoption of regulated digital assets in the United Kingdom.

tGBP is currently the only GBP-pegged stablecoin issued by a firm registered with the UK Financial Conduct Authority (FCA). BCP Technologies successfully completed the FCA’s regulatory sandbox programme before launching the stablecoin earlier this year, underscoring its commitment to regulatory transparency and consumer protection.

Despite recent discussions by the Bank of England regarding potential holding limits for systemic stablecoins, Benoit Marzouk, Founder and CEO of BCP Technologies, remains confident in the long-term outlook for GBP-denominated stablecoins.

“A £10 billion market capitalisation for tGBP would represent roughly 0.3% of M4 (£2,800 billion) and would therefore qualify as a non-systemic stablecoin under FCA supervision, for which no specific limits have been set,” said Marzouk.

“Over the past year, we’ve seen stablecoins combine with DeFi to power the next wave of retail adoption — from crypto-backed loans and yield products to payments,” he added. “Most of this innovation has been concentrated in the US with USDC, but now, with tGBP listed on a leading exchange like Kraken, UK users can finally access these powerful frontier technologies.”

Over £1.1 million worth of tGBP has already been minted across Ethereum, Base, Avalanche, Polygon, BNB Chain, and Solana. Following this latest milestone, the Tokenised GBP team plans to expand institutional partnerships and strengthen GBP-denominated DeFi liquidity across leading blockchain protocols — enabling users to swap into other digital assets, take GBP-based crypto-backed loans, and earn on-chain GBP yield within a compliant framework.