# Kamino Launches Sterling Lending Market for tGBP on Solana

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/24237
Published: 2026-09-25T18:57:01.000Z
Updated: 2026-09-25T18:57:01.000Z
Section: Technology

> The isolated market lets users supply tGBP and borrow tGBP or USDC against USDC, cbBTC and JitoSOL, with maximum loan-to-value ratios ranging from 60% to 85%.

Kamino launched an isolated lending market for Tokenised GBP (tGBP) on Solana, giving users a venue to supply the sterling stablecoin or borrow tGBP and USDC against approved crypto collateral.

The market accepts USDC, cbBTC and JitoSOL as collateral. Maximum loan-to-value ratios are 85% for USDC, 75% for cbBTC and 60% for JitoSOL. Both tGBP and USDC are available to borrow.

Steakhouse Financial sets the market’s collateral eligibility, loan-to-value limits, and supply and borrowing caps. Kamino describes the venue as isolated, with its liquidity, collateral and risk parameters separated from those of other Kamino lending markets.

tGBP is a stablecoin designed to track the pound sterling at a 1:1 ratio. The token is backed by cash and cash equivalents held by BCP Technologies, which issues the asset.

Eligible businesses can mint tGBP by transferring pounds through U.K. banking rails and redeem the tokens back into pounds. BCP Technologies is registered with the U.K. Financial Conduct Authority under the country’s cryptoasset registration regime. tGBP is not electronic money and is not covered by the U.K. Financial Services Compensation Scheme.

“Sterling is one of the world's major currencies, and it belongs onchain alongside the dollar,” Benoit Marzouk, CEO of BCP Technologies, said. “We built tGBP so UK institutions could hold and move pounds on public blockchains. Kamino gives those pounds a credit market, which is what turns a stablecoin into something a balance sheet can use.”

Kamino has more than $2.7 billion in deposits and has originated more than $21 billion in onchain loans over three years, with no bad debt to lenders.

“Regulated assets are coming onchain faster than ever, and each one needs a credit market,” Michael Weisz, CEO of Kamino, said. “Kamino has built them for tokenized treasuries, equities and gold, and sterling is the next.”

The market was launched Sept. 23, 2026.