Pound Sterling stablecoins (GBP)
5 stablecoins pegged to the pound sterling, from 5 issuers. Supply is read directly from the contracts DIA verified.
Stablecoin supply
FX turnover share
Reserve share
Trade invoicing share
FX turnover share is one side of a currency trade, so all currencies' shares sum to 200% by BIS convention. Reserve and invoicing shares are only published for a handful of currencies; a dash means that source does not break GBP out individually, not that its share is zero.
Net new GBP supply
Change in the circulating supply of the 5 of 6 GBP coins counted here (including 1 inactive coin that held supply in the window), as reported by aggregated market data. Both endpoints come from that source, so the dollar figure is a statement about it, not about the onchain supply DIA reads from the contracts, which is a different measurement of the same bloc. Coins that appeared part-way through a window are excluded, so this is supply added by coins that existed throughout rather than by the arrival of new ones.
| Coin | Issuer | Peg | Backing | Onchain supply | Chains |
|---|---|---|---|---|---|
 tGBPTokenised GBP | BCP Technologies (Tokenised GBP) | GBP | Cash & money-market | 19.8M tGBP |      BSC, Gnosis, Avalanche |
| Agant | GBP | Cash & money-market | Read, total withheld |   | |
 GBPmMento British Pound | Mento | GBP | Own-token / algorithmic | 265.8K GBPm |   |
 VGBPVNX British Pound | VNX Global Ltd. | GBP | Cash & money-market | 126.6K VGBP | |
 eGBPARYZE eGBP | ARYZE | GBP | Cash & money-market | 8.0K eGBP |    Ethereum |
Why this currency
Sterling is the fourth most traded currency in the world, on one side of 10.2% of all foreign exchange trades in April 2025 according to the Bank for International Settlements. The coins referencing it are few and small, from issuers with very different intentions.
The gap is not really about demand. It is about the absence, until recently, of a route to issue that a serious institution would take. The European Union built one with MiCA. Sterling has not had that yet, and the roster below is what a currency looks like before its framework arrives.
Sources: Bank for International Settlements, Triennial Central Bank Survey: OTC foreign exchange turnover in April 2025, ESMA, Markets in Crypto-Assets Regulation (MiCA)
Market structure
tGBP is the coin with a real product surface behind it. It is issued by BCP Technologies Ltd, registered with Companies House under company number 11121448 and incorporated on 21 December 2017 under the previous name Cashin Dot Store Ltd. It is deployed on eight chains, with one shared contract address across Ethereum, Base, Arbitrum, Polygon, BNB Chain and Avalanche and separate contracts on Gnosis Chain and Solana.
The others are narrower. GBPm is minted by the Mento protocol, which covers many currencies, rather than by a sterling business. VGBP and eGBP come from issuers that also offer other currencies, VNX with a Swiss franc coin and ARYZE with a euro coin, so sterling is one line among several rather than the product.
So the practical answer for a reader looking for a sterling stablecoin is that there is one coin here built as a sterling product, and the rest are sterling denominated lines in a wider range. That is worth knowing before treating the roster as a field of comparable options.
Sources: Tokenised GBP, Reserves (transparency page), Companies House, BCP TECHNOLOGIES LTD, company number 11121448, Mento docs, deployment addresses, VNX homepage, ARYZE docs, company entities (archived 22 December 2024)
Regulation
The United Kingdom has set out the shape of its sterling regime. The Bank of England published its policy statement and draft rules for systemic stablecoins on 22 June 2026. The Financial Conduct Authority will regulate the issuance, custody and admission to trading of UK issued stablecoins, and in future their use in payments, including non-systemic ones.
For a systemic sterling stablecoin, the Bank settled on backing of 30% in Bank of England deposits and up to 70% in short-term UK government debt. It dropped the holding limits it had proposed and set a temporary issuance guardrail, initially £40 billion per systemic stablecoin.
The feedback period closed on 22 September 2026 and the Bank intends to finalise the Code of Practice by the end of 2026. The Bank says regulated stablecoins can operate in the UK from 2027.
Sources: Bank of England, policy statement and draft rules on systemic stablecoins, 22 June 2026, Bank of England, sterling-denominated systemic stablecoins policy statement
Common questions
Yes, though the field is small. tGBP, issued by BCP Technologies Ltd, is the coin with a business built around it. The others in this roster are sterling denominated entries inside wider multi currency platforms rather than sterling products in their own right.
Mostly because there has been no clear route to issue that an institution would take. The European Union created one with MiCA. The UK regime is still being finalised: the Bank of England says regulated stablecoins can operate in the UK from 2027, and this roster is what a major currency looks like before its framework arrives.
BCP Technologies Ltd is registered with the FCA as a cryptoasset firm (reference number 928840) under the Money Laundering Regulations 2017, and the FCA lists it among its Regulatory Sandbox firms for tGBP. The issuer states that tGBP is not e-money and is not protected by the FSCS. Registration under money laundering regulations is not the same thing as authorisation to issue electronic money.
The issuer's transparency page reported 20,105,025.71 tGBP in circulation as of 2 October 2026. The attestation report dated 31 August 2026, signed by Andersen LLP, gives 19,962,640.38 tGBP across eight chains against a GBP reserve of 20,005,571.06.