Tether To Work With UK Regulators for Launch of New Stablecoin Pegged to British Pound

Tether To Work With UK Regulators for Launch of New Stablecoin Pegged to British Pound

The creators of a popular crypto asset designed to keep a US dollar peg now plan to expand their roster into the United Kingdom. In a new announcement, Tether says it will work with UK authorities to create a new digital asset called GBPT that will seek 1-to-1 parity with the Pound Sterling. GBPT will be the company’s fifth stablecoin offering. In addition to the widely used US dollar-pegged Tether (USDT), there’s also EURT which aligns with the Euro, an offshore peg to the Chinese yuan called CNHT, as well as MXNT that’s paired with the Mexican peso. Tether’s chief technology officer Paolo Ardoino says of the new venture, “We believe that the United Kingdom is the next frontier for blockchain innovation and the wider implementation of cryptocurrency for financial …
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