Coinbase Lists tGBP: A New GBP-Backed Stablecoin Expands Global Crypto Access

Coinbase has officially listed Tokenised GBP (tGBP), marking April 22 as the launch date of its first British pound-backed stablecoin available to users worldwide. Issued by FCA-registered BCP Technologies, tGBP is fully backed on a 1:1 basis with cash reserves and short-term UK government bonds, ensuring stability and transparency for users seeking a reliable digital representation of the pound.

The introduction of tGBP on Coinbase provides a significant advantage for UK-based traders and businesses. It allows users to hold, transfer, and transact in their local currency without needing to convert funds into US dollar-pegged stablecoins. This development helps reduce foreign exchange costs and simplifies transactions, making crypto usage more efficient for British users. Through the Coinbase app and exchange, users can now seamlessly buy, sell, convert, send, and receive tGBP.

The listing comes at a time when the global stablecoin market continues to expand rapidly, surpassing $320 billion in total market capitalization. In 2025 alone, stablecoins facilitated more than $30 trillion in transactions, demonstrating strong adoption and utility beyond traditional crypto trading. Notably, stablecoin usage has remained relatively stable regardless of broader cryptocurrency market volatility.

Industry leaders have expressed strong support for Coinbase’s move. CEO Brian Armstrong described stablecoins as one of the most efficient forms of money, highlighting their growing importance in the financial ecosystem. Polygon Foundation CEO Sandeep Nailwal also emphasized the urgency for countries to embrace stablecoin innovation, warning that slow adoption could mirror the disadvantages faced by late adopters of the internet. He pointed out that traditional cross-border payments can cost up to 6% and take several days, whereas stablecoin transactions are nearly instant and significantly cheaper.

Despite the optimism, the future growth of tGBP may depend on regulatory clarity. The UK’s stablecoin framework is still under development, with full implementation expected by late 2026. How quickly regulators finalize these rules could play a key role in determining the long-term success and adoption of pound-backed stablecoins like tGBP.