Stablecoin issuer Agant has obtained registration with the UK FCA and is preparing to launch the GBP stablecoin GBPA

Stablecoin issuer Agant has obtained registration for crypto asset activities from the UK's Financial Conduct Authority (FCA) in preparation for its upcoming pound-pegged stablecoin, GBPA.

This registration is granted under the UK's anti-money laundering regulations, allowing Agant to issue the GBPA stablecoin, which will be fully backed by pounds at a 1:1 ratio, primarily targeting institutional users.

Agant's CEO Andrew MacKenzie stated that a well-designed pound stablecoin provides a solid foundation for innovation in payments, settlements, and tokenized assets in the UK. The company is working closely with regulators, financial institutions, and global partners to build its platform. GBPA will enter the pound stablecoin market, which already includes products like Tokenised GBP (TGBP), the latter having a market capitalization of approximately $4.9 million.