On April 22, 2026, Coinbase introduced tGBP, a sterling-backed stablecoin issued by BCP Technologies.
This listing enables Coinbase users in the UK and other supported regions to engage with tGBP via the Coinbase app and Exchange. Issuer BCP Technologies is recognized by the Financial Conduct Authority (FCA) of the United Kingdom and has participated in the FCA’s regulatory sandbox.
The role of sterling stablecoins in the market
As the stablecoin sector expands, the total value of the market now exceeds USD 300 billion. Projections suggest it could grow to USD 2 trillion by the coming years. In 2025 alone, transactions settled using stablecoins surpassed USD 30 trillion, highlighting their increasing significance in global payments beyond speculative trading.
Coinbase views the addition of tGBP as a critical step towards supporting domestic-currency stablecoins across international markets. By offering sterling-pegged tGBP, Coinbase addresses the need for users and businesses to avoid constant foreign exchange exposure when dealing in digital assets. This instrument enables participants in tokenized asset markets and on-chain payment systems to operate directly in their local currency.
Regulatory landscape and policy considerations
Coinbase has outlined several policy positions relevant to the UK’s evolving regulatory framework for stablecoins. The exchange argues against stringent reserve requirements, advocating a risk-based approach rather than mandating that issuers hold 40% of their reserves in unremunerated central bank cash. It also opposes issuance caps, seeing volume limits as restrictive and instead supports the use of stablecoins as settlement assets outside of sandbox environments.
With BCP Technologies already registered with the FCA and participating in its regulatory sandbox, tGBP is one of the earlier sterling-backed stablecoins to operate under emerging UK compliance guidelines. This listing represents a significant shift by exchanges towards incorporating multi-currency digital assets that align more closely with local market conditions.
