Tether Plans to Launch a Stablecoin Tied to the British Pound

Tether is releasing a crypto token tied to the value of the British pound as part of a push into new stablecoins.

The GBPT token will be available to trade on the Ethereum blockchain from early July, according to a statement on Wednesday. The crypto platform also offers tokens pegged to the US dollar, euro, Chinese yuan and Mexican peso, having launched the latter last month.

Stablecoins are one of the most used tokens in crypto, and have been adopted by traders and investors as a store of wealth to safeguard portfolios against market volatility. The number of dollar-pegged Tethers, ...