Coinbase has added support for tGBP, a GBP stablecoin from an FCA-registered firm, expanding a small but growing market.
The biggest U.S. crypto exchange is adding a pound-backed stablecoin to its platform, giving users a way to hold and move digital sterling as stablecoins are having their “iPhone moment.”
Coinbase said in a blog post that starting April 22, users in the UK and other supported regions can buy and sell Tokenised GBP, a GBP stablecoin issued by London-based FCA-registered crypto firm BCP Technologies.
This is also the first time Coinbase lists a GBP-backed stablecoin on its platform in addition to the current set of other stablecoins.
Read also: Stablecoin Market Cap Tops $321B, Extending 2026 Growth
A Tiny Corner of Crypto
The British pound stablecoin market is relatively small. CoinGecko data shows the segment is worth about $30.9 million, with tGBP alone accounting for roughly $30.1 million, or about 97.7% of the total.
The only other GBP stablecoins listed there were Mento British Pound at about $549,000 and VNX British Pound at about $173,000.
What it Means for Users
For a typical UK user, it’s pretty simple in practice. Most stablecoin liquidity still sits in dollars. That means people often convert pounds into a dollar-backed stablecoin first. They move it across platforms, then convert it back again. Along the way, they also pick up extra steps and some FX risk.
Coinbase leans into that point with tGBP. The exchange says it’s the first British pound-pegged stablecoin issued by an FCA-registered firm and that it’s “fully collateralised by fiat and short term zero coupon bonds issued by HM Treasury.”
Read more: Base Bets on Prediction Markets, Stablecoins in 2026 Roadmap
