Global: FCA-Registered BCP Technologies Launches Pound-Backed Stablecoin tGBP

BCP Technologies, a Financial Conduct Authority (FCA)-registered crypto firm based in the United Kingdom, has officially launched a new stablecoin pegged to the British pound sterling. Known as Tokenised GBP (tGBP), the asset is fully backed 1:1 by cash reserves and issued as an ERC-20 token on the Ethereum blockchain.

Announced on June 3, tGBP is now live on BCP Markets, the company’s crypto trading platform, and available to users who complete Know Your Customer (KYC) checks. The firm noted that discussions are ongoing with two major exchanges expected to list tGBP in the coming weeks.

“We’re finalising agreements with two major exchanges and expect to announce these listings shortly,” said Benoit Marzouk, CEO of BCP Technologies.

A Real-World Test Case for UK Stablecoin Regulation

The launch comes shortly after the FCA opened public consultation on new regulatory frameworks for stablecoins and crypto custody, marking a pivotal step in the UK’s digital asset policy. Marzouk described tGBP as a “live proof-of-concept” for what future FCA-compliant stablecoins could look like.

BCP, which previously operated as BitcoinPoint, participated in the FCA’s Regulatory Sandbox during May 2025, allowing it to trial the stablecoin under supervised conditions. The firm also confirmed its participation in the FCA’s upcoming stablecoin roundtable on July 4, signalling continued collaboration with regulators.

“BCP works closely with the FCA and aims to align tGBP with emerging regulatory standards, including backing the token with short-term UK government bonds in the future,” Marzouk added.

Targeting Broad Use Cases and Institutional Adoption

tGBP is designed for multiple use cases, including:

• Self-custody for retail and corporate users as an alternative to traditional bank deposits

• Cross-border transactions offering faster, more cost-effective settlement

• Collateral management for institutional players

• Decentralized finance (DeFi) applications and lending

• Settlement of tokenised assets, including securities and real estate

“Our goal is to bring blockchain benefits to everyday finance using a familiar GBP denomination. tGBP aims to eventually replace GBP e-money with a stablecoin standard,” said Marzouk.

Filling a Market Gap in Pound-Pegged Stablecoins

BCP’s entry into the pound-backed stablecoin market comes at a time of limited competition. According to CoinGecko, the only other tracked GBP stablecoins—VNX British Pound (VGBP) and Celo British Pound (CGBP)—have a combined market capitalization below $500,000.

Other initiatives include Blackfridge’s poundtoken (GBPT) and Agant’s GBPA, developed by a member of the Digital Pound Foundation.

With strong regulatory alignment and diverse use cases, BCP Technologies’ tGBP could position itself as a foundational element in the UK’s emerging digital asset ecosystem, potentially accelerating adoption of stablecoins in both retail and institutional finance.