Coinbase Lists tGBP, Expanding Access to UK-Denominated Crypto Assets

Stablecoins maintain their value through reserves of fiat-currency assets and are expanding beyond crypto trading into cross-border payments and corporate treasury management. Coinbase said the global stablecoin market capitalization has surpassed $300 billion, while settlement volume exceeded $30 trillion in 2025. The market could grow to $2 trillion by 2028, making sterling-denominated products a key part of Coinbase’s localization strategy and the UK’s ambition to become a global crypto hub.

Coinbase announced on April 22, 2026, that it had listed tGBP, a sterling stablecoin backed by fiat reserves. The move gives UK users direct access to a local-currency-denominated onchain asset and is intended to promote payment applications. Issuer BCP Technologies is registered with the UK Financial Conduct Authority and previously participated in the FCA’s regulatory sandbox. However, Federal Reserve research indicates that actual payments still account for less than 1% of stablecoin activity by transaction volume.