Tether developers launch stablecoin pegged to the pound

The developers of the Tether stablecoin (USDT), which became the first cryptocurrency to receive the status of a stable coin, have announced the launch of a new stablecoin pegged to the British pound.

As stated on the official Tether website, the GBPT stablecoin will be available on the Ethereum blockchain in early July. «We believe that the UK is the next country to introduce blockchain innovations and wider use of cryptocurrencies in the public sector,» said Paolo Ardoino, CTO of Tether.

The developers hope to expand the boundaries of the crypto community by providing access to stablecoins to users around the world. GBPT is the fifth Tether stablecoin pegged to fiat money. Earlier, the developers launched EURT (pegged to the euro), CNHT (pegged to the Chinese yuan), and MXNT (pegged to the Mexican peso). However, USDT remains the most popular stablecoin in the world.

It is interesting that Tether will launch a new stablecoin despite the market volatility and the recent hacker attack on the Tether website. The attackers warned of a possible attack and demanded a ransom from the company. However, the team has now taken the necessary measures to prevent possible pressure on the system.