Key Highlights
- tGBP, a stablecoin backed by GBP, was introduced on Coinbase for users worldwide on April 22.
- Stablecoins have been estimated to account for more than $30 trillion in transactions in 2025.
- The development of GBP-backed stablecoins attempts to cut the dependency on USD-backed coins.
Crypto exchange Coinbase announced the listing of tGBP, a GBP-backed stablecoin, which will be available to users globally from April 22. The move reflects the increasing trend of local stablecoins in payment systems.
According to the official announcement, the listing comes as stablecoins continue to expand beyond their initial use case as trading tools within crypto markets.
As per industry statistics quoted by Coinbase, the current market capitalization of the stablecoin space is already over $300 billion, with predictions that this figure could touch the $2 trillion mark soon. Stablecoins were used for more than $30 trillion in transactions in 2025.
Coinbase said a GBP-backed stablecoin could allow users in the United Kingdom to cut their dependence on stablecoins pegged against the dollar.
What the listing includes
The listing of tGBP reflects a wider trend toward region-specific stablecoins. Although USD-denominated tokens hold supremacy in terms of market dominance, there is an increasing demand for local currency-denominated stablecoins, especially in those regions where the integration of blockchain technology into local economy-based financial systems is a priority.
This could reduce foreign exchange risks that might arise from using stablecoins backed by the dollar by businesses and people using pounds. Stablecoins could facilitate access to various innovative blockchain-based services, including asset tokenization and on-chain financial services.
The issuer of tGBP, BCP Technologies, is licensed by the UK Financial Conduct Authority (FCA) and has participated in the regulator’s sandbox program.
Expanding stablecoin use
In a separate advancement, Coinbase recently collaborated with Nium to offer USDC payment facilities on its global platform. The move allows organizations to send, receive, and settle payments through the stablecoin.
The system integrates Coinbase’s wallet, liquidity, and custody services with Nium’s payment network, which spans more than 190 countries. Businesses can manage both fiat and USDC in one place and convert stablecoins into local currency at the point of payment.
Regulatory considerations
The listing comes as the UK positions itself as a hub for digital finance. However, the company reiterated that clarity on the regulations will have an important influence in terms of how fast or slow the industry will evolve. There are still several outstanding issues, such as the need for reserve requirements, issuance limitations, and the position of stablecoins against other types of digital currencies that are being debated.
One of the concerns raised by the company is that there may be negative consequences of regulatory actions taken against stablecoins in terms of limiting innovation. This may be done through measures such as requiring most of the reserve funds to be held in non-interest-bearing bank accounts and limiting the issuance amounts of stablecoins.
There are also ongoing discussions about the role of stablecoins in wholesale financial markets, particularly their use as payment instruments.
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