The issuer of the largest US dollar-pegged stablecoin, Tether, announced in a press statement that it plans to expand its services by introducing GBPT, a stablecoin pegged to the British pound.
The token, scheduled for launch in July, will be the company’s sixth stablecoin. It will join the US dollar-pegged USDT, Euro-pegged EURT, offshore Chinese yuan-pegged CNHT, and Mexican peso-pegged MXNT.
“We believe that the United Kingdom is the next frontier for blockchain innovation and the wider implementation of cryptocurrency for financial markets. We hope to help lead this innovation by providing cryptocurrency users worldwide with access to a GBP-denominated stablecoin issued by the largest stablecoin issuer,” said Paolo Ardoino, CTO of Tether.
“Tether is ready and willing to work with UK regulators to make this goal a reality and looks forward to the continued adoption of Tether stablecoins,” he added.
Fear has spread in the market following the recent collapse of the TerraUSD [UST] stablecoin, which was pegged to the US Dollar. It sparked more concerns about the security and support of stablecoins.
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