Coinbase has listed tGBP, its first GBP-backed stablecoin, marking a significant expansion of its stablecoin offerings. The announcement was made during UK Fintech Week, with CEO Brian Armstrong taking to X to declare that stablecoins are “the best form of money.”
The stablecoin is issued by BCP Technologies, a company registered with the UK Financial Conduct Authority (FCA) that also participated in the FCA’s regulatory sandbox. Users in the UK and other supported regions can now buy, sell, convert, send, and receive tGBP directly via the Coinbase app and Coinbase Exchange.
Armstrong’s comments reignited debate within the crypto community. In July 2025, he had called Bitcoin “the best form of money ever created.” The apparent shift in stance drew pushback from Bitcoin supporters, highlighting ongoing tensions between stablecoin utility and Bitcoin’s core value proposition. Armstrong did not address the contradiction, instead focusing on stablecoins’ growing role in global payments.
Coinbase UK described the launch as part of its mission to bring the UK onchain. tGBP removes the need for UK users to convert between GBP and USD-pegged stablecoins, cutting down on foreign exchange risks. The stablecoin market has grown to over $300 billion in total market cap, and in 2025 stablecoins settled over $30 trillion in transactions.
Coinbase also used the announcement to advocate for supportive UK stablecoin regulation. The company warned against high reserve requirements, caps on stablecoin issuance, and restrictions on stablecoins as settlement assets in tokenized wholesale markets. It argued that overly cautious policies would limit innovation and hinder the UK’s ambition to become a global hub for digital finance.
