Deployments · platform by BCP Technologies

Tokenised GBP (tGBP) sterling stablecoinNew

A sterling stablecoin issued by BCP Technologies, a UK cryptoasset firm registered with the FCA under the Money Laundering Regulations, launched in June 2025 after testing in the FCA's regulatory sandbox. Each token is backed one-to-one by cash and cash equivalents, with monthly independent attestations; the issuer stresses it is not e-money and is not covered by the FSCS. Businesses mint and redeem through BCP by Faster Payments or CHAPS, while Kraken and Coinbase list it for trading. It runs on eight public chains and was the largest sterling stablecoin in October 2026, with about GBP 20 million on-chain, mostly on Ethereum and Base. The issuer also promotes it as a settlement asset for tokenised funds and bonds on Archax.

Live (limited) since Jun 2025^[3]i — About GBP 20 million in circulation in October 2026. · Reviewed 22d ago i

Assets

Stablecoin^[2]

Sterling stablecoin backed by cash and cash equivalents

Networks

Ethereum Public, permissionless^[1]

Base Public, permissionless^[1]

Solana Public, permissionless^[1]

Arbitrum Public, permissionless^[1]

Polygon Public, permissionless^[1]

BNB Chain Public, permissionless^[1]

Gnosis Chain Public, permissionless^[1]

Avalanche Public, permissionless^[1]

Use cases i

Primary issuance^[2][5]Payments^[1]Delivery versus payment (DvP)^[1]

Jurisdictions

United Kingdom

Participants

• BCP TechnologiesPlatform provider, Issuer, Operator^[2][3]United Kingdom
• CoinbaseDistributor^[4]United States
• KrakenDistributor^[1]United States
• ArchaxDistributor^[1]United Kingdom
• BitpandaDistributor^[1]Austria
• Coins.phDistributor^[1]Philippines
• WirexDistributor^[1]United Kingdom
• AndersenAuditor or reserve attestor^[6]United States
• Reserves sit at an unnamed UK-regulated institution.^[1]

Likely relevant regulation i

• Bank of England regime for sterling-denominated systemic stablecoinsUnited Kingdom
• UK cryptoasset regulatory regime (FSMA cryptoasset activities)United Kingdom

Assets

• IssuesTokenised GBP (tGBP)^[1]

Metrics i

• £14.3mTokens in circulation (Ethereum) · as of 17 Oct 2026 · on Ethereum^[5]
• £5.39mTokens in circulation (Base) · as of 17 Oct 2026 · on Base^[5]
• £175,953Tokens in circulation (Solana) · as of 17 Oct 2026 · on Solana^[5]
• £70,876Tokens in circulation (Polygon) · as of 17 Oct 2026 · on Polygon^[5]
• £44,156Tokens in circulation (Arbitrum) · as of 17 Oct 2026 · on Arbitrum^[5]
• £13,713Tokens in circulation (BNB Chain) · as of 17 Oct 2026 · on BNB Chain^[5]
• £20mtGBP issued on-chain (all networks) · as of 17 Oct 2026context^[2]
  Issuer's total; the per-network figures above (plus about GBP 1,500 on Gnosis and Avalanche) make it up, so this is not counted again.
• ~£19.83mSupply on chain (daily) · as of 7 Nov 2026^[7]
  Automated daily reading of on-chain supply across all chains.
• ~£11,917Supply on chain (daily) · as of 7 Nov 2026 · on BNB Chain^[7]
  Automated daily reading.
• ~£14.21mSupply on chain (daily) · as of 7 Nov 2026 · on Ethereum^[7]
  Automated daily reading.
• ~£68,060Supply on chain (daily) · as of 7 Nov 2026 · on Polygon^[7]
  Automated daily reading.
• ~£16Supply on chain (daily) · as of 7 Nov 2026 · on Avalanche^[7]
  Automated daily reading.
• ~£161,951Supply on chain (daily) · as of 7 Nov 2026 · on Solana^[7]
  Automated daily reading.
• ~£42,656Supply on chain (daily) · as of 7 Nov 2026 · on Arbitrum^[7]
  Automated daily reading.
• ~£5.33mSupply on chain (daily) · as of 7 Nov 2026 · on Base^[7]
  Automated daily reading.

Timeline

1. Happened 23 Apr 2026 · Scope expansion · recorded 17 Oct 2026
   Coinbase lists tGBP for UK and other supported users on its app and exchange.^[4]
2. Happened Jun 2025 (month only) · Launch · recorded 17 Oct 2026
   BCP Technologies launches tGBP on Ethereum after testing it in the FCA's regulatory sandbox.^[3]

Sources i