Tether, the leading U.S. dollar stablecoin issuer, issued a press release today announcing that Tether will launch GBPT, a GBP-pegged stablecoin, in early July, and the initial supported blockchain will include Ethereum. Tether issues the world’s largest stablecoin by market value, with a market value of $68 billion.
After the issuance of GBPT, GBPT will become the fifth fiat-pegged stablecoin issued by Tether. Previously, Tether has issued the US dollar stable currency USDT, the euro stable currency EURT, the offshore RMB stable currency CNHT, and the Mexican peso stable currency MXNT.
Tether said that in April this year, the British Treasury announced plans to make the United Kingdom a global cryptocurrency center, and the British government will also take action to recognize stablecoins as a valid form of payment. Trends in currency combine to make the UK a prime location for the next wave of industrial innovation.
Tether mentioned that GBPT will be a price-stable digital asset, pegged 1:1 to GBP, and GBPT will be built by the development team behind Tether and run under Tether. The creation of GBPT will bring the pound into the blockchain, providing a faster and less expensive option for asset transfers.
Tether finally pointed out that the launch of GBPT represents Tether’s commitment to creating stablecoin technology, bringing the largest and most liquid stablecoin to the global market, and proclaiming that GBPT will consolidate the position of GBP as one of the world’s most important currencies, and provide USDT and EURT introduce foreign exchange trading opportunities, and GBPT will also be used as a deposit channel to enter the decentralized financial ecosystem.
For the miner group, stablecoin is the main way for them to realize the output of mining machines. The healthy development of the stablecoin market will help to provide a better ecology for the digital currency market.
Post time: Aug-20-2022