Tether to Issue a Stablecoin Pegged to the British Pound
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Tether, the issuer of USDT, the largest stablecoin in the market by market cap, has just announced it intends to launch the GBPT, a "stablecoin" pegged to the British pound.

The company reportedly plans to begin issuing the stablecoin in July.

The GBPT, which will initially be available on the Ethereum network, will be the company's fifth fiat-based stablecoin.

Tether has previously issued the USDT, the EURT, the CNHT and the MXNT.

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According to the announcement made by the company on its blog:

"This initiative, paired with hundreds of millions of people using crypto around the world, makes the United Kingdom a prime location for the next wave of industry innovation."

Tether and crypto exchange Bitfinex do not plan to lay off employees despite the recent market crash.

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