London Block Exchange, in cooperation with AlphaPoint, intends to launch the world's first stablecoin cryptocurrency GBP-Peg (GBPP) linked to the British pound (GBP). Investments will be at a 1: 1 ratio and funds will be well secured in UK bank accounts.
Stablecoin British Pound GBP-Peg (GBPP)
London Stock Exchange London Block Exchange is a trading venue for a large number of cryptocurrencies, taking into account the specificity of the British market. Cooperation with AlphaPoint covered the entire process of elaborating and putting into circulation the first ever British pound in the stablecoin crypto named GBP-Peg (GBPP).
The presence of cryptocurrencies from the stablecoin category on the market is primarily aimed at stabilizing the high volatility of prices on digital markets. In most cases, the value of such cryptocurrency is determined based on traditional currencies or market values of precious metals.
Yet stablecoins they were mainly associated with the US dollar and the euro. From now on they will also be associated with British pound - the official currency of Great Britain. Everything indicates that it will be another step towards the development of the digital asset market.
The turnover of GBPP will be concentrated around a specially established bank account, on which pounds will be accumulated, representing 1: 1 by GBPP. It is estimated that the new cryptocurrency will increase the popularity of the use of other digital currencies, and it will provide numerous benefits for investors by increasing the liquidity of transactions.
Stablecoins also sees prescriptions for stabilizing the digital asset market, which, according to some enthusiasts of the solution, even predicts that the government will soon reach for a solution. And although it is a fairly courageous vision, it can not be denied that digital technologies, with particular emphasis on Security Token Offering, have wider and wider application around the world.