Tether To Launch British Pound Sterling Pegged Stablecoin
Tether Operations is responsible for the number three top cryptocurrency Tether (USDT), with a marketcap of $66.924 Billion. . Tether tokens are pegged to a fiat currency and therefor offer price stability, as stablecoins.
All Tether tokens are pegged 1-to-1 with the matching fiat currency.
USDT has nearly recovered from the UST crash when USDT fell to lows of $0.97. The recently released Tron stablecoin USDD fell to a low of $0.9317 on June 19th and is now hovering around $0.9754.
Most recently Tether released MXNT, a stablecoin pegged to the Mexican peso. GBPT will be pegged to the British Pound and will be an ERC-20 (Ethereum based) token. GBPT will initially only be available on the ETH network.
Tether emphasized that this project was prompted by the UK Treasury’s goal to make the country into a cryptocurrency hotspot.
