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Coinbase has listed FCA‑sandbox‑tested tGBP, letting users move pound‑pegged stablecoins across its app and exchange as it doubles down on local‑currency rails beyond USD.
Coinbase is deepening its bet on non‑USD stablecoins, rolling out full support for the pound‑pegged tGBP stablecoin starting this year.
According to the company’s announcement, users can now buy, sell, exchange, send, and receive tGBP through both the Coinbase App and Coinbase Exchange, bringing a regulated GBP token directly into the retail and institutional Coinbase stack.
The issuer behind tGBP is BCP Technologies (also known as BCP Markets), a UK‑registered cryptoasset firm supervised by the Financial Conduct Authority.
FCA records describe BCP as providing “the issuance and distribution of its own GBP denominated Stablecoin, tGBP, which aims to peg its value to the British Pound,” and note that the company participated in the regulator’s sandbox from 2021 through 2025 to test the product in a live environment.
Coinspaid and other coverage of the launch emphasize that tGBP is fully backed 1:1 by reserves held in segregated accounts at a UK‑regulated financial institution, with BCP CEO Benoit Marzouk saying the token is designed to let clients “transfer pounds through blockchain technology without intermediaries and price volatility.” BCP says tGBP targets both retail and institutional users and is meant to function as a “reliable and efficient way to transact in GBP globally,” mirroring the model of dollar stablecoins but tied to sterling.
For Coinbase, adding tGBP fits a broader push to diversify beyond USD rails. In its blog post on “GBP stablecoins unlocking the future of finance,” Coinbase argued that local‑currency stablecoins can streamline cross‑border payments, reduce FX friction, and support use cases like real‑world‑asset tokenization and programmable payouts directly in domestic currency, rather than forcing users through USD as the default bridge asset.
The UK, meanwhile, is racing to put a formal regulatory perimeter around stablecoins, with the FCA selecting several firms to test stablecoin models in its expanded sandbox and positioning GBP tokens as future settlement instruments for both crypto‑native and traditional finance flows.
By aligning with an FCA‑registered issuer that has already cleared a 14‑month review process and sandbox testing, Coinbase is effectively betting that tGBP — or something that looks a lot like it — will become a core building block of the UK’s on‑chain payments and trading infrastructure.