- Tether Limited, publisher of the largest stablecoin by market cap USDT, will launch a new stablecoin in early July.
- “GBPT” will be pegged to the British pound sterling.
- “Initial blockchain support” “will include Ethereum,” Tether said in a press release.
- Tether is responding to statements by the British Treasury to “make the country a global crypto hub.” To that end, “stablecoins must be recognized as valid means of payment.”
- “The creation of GBPT will bring the British pound onto the blockchain and provide a faster and cheaper option for wealth transfers,” the company said.
- In addition to US dollar-pegged USDT and GBPT, Tether also sells euro-pegged EURT, as well as CNHT, which tracks the Chinese yuan, and MXNT, which tracks the Mexican peso.
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