Tether will issue GBPT, a stablecoin pegged to the British pound

Tether, the issuer of the largest U.S. dollar-pegged stablecoin, plans to expand its offerings with the introduction of GBPT, a stablecoin pegged to the British pound 1:1.

The token GBPT will be issued in July. Initially, it will be available on the Ethereum network, but the developers promise to place this “stable coin” on the basis of other blockchains in the future.

GBPT is set to become the fifth fiat currency-pegged stablecoin launched by Tether, joining the U.S. dollar-pegged USDT, euro-pegged EURT, Chinese Yuan-pegged CHNT, and the recently launched Mexican peso-pegged MXNT.