Agant registers with U.K. FCA ahead of British pound stablecoin debut

Stablecoin issuer Agant has successfully registered as a cryptoasset business with the U.K.'s Financial Conduct Authority (FCA) under money laundering regulations. This regulatory milestone clears the way for the firm to launch GBPA, a fully backed stablecoin denominated in British pounds sterling, specifically targeting institutional users. GBPA is intended to be redeemable 1:1 for GBP and will operate within the U.K.'s evolving crypto regulatory framework, aiming to integrate with traditional finance while utilizing blockchain efficiency. While dollar stablecoins dominate the market, Agant's launch comes as the U.K. seeks to establish London as a digital asset hub, though the GBP stablecoin market remains nascent compared to dollar alternatives. Agant CEO Andrew MacKenzie stated that a well-designed GBP stablecoin will support innovation in U.K. payments and tokenized assets.

(Source：CoinDesk)