According to ChainCatcher, stablecoin issuer Agant has obtained registration for its crypto asset business from the UK Financial Conduct Authority (FCA) in preparation for the upcoming launch of its pound sterling stablecoin, GBPA.
The registration was granted under UK anti-money laundering regulations, enabling Agant to issue GBPA, a stablecoin fully backed by the British pound, which will be pegged 1:1 to the pound and primarily targeted at institutional users.
Agant CEO Andrew MacKenzie stated that well-designed sterling stablecoins provide a solid foundation for innovation in UK payments, settlements, and tokenized assets. The company is working closely with regulators, financial institutions, and global partners to build its platform. GBPA will enter the sterling stablecoin market, which already has products such as Tokenised GBP (TGBP), with a market capitalization of approximately $4.9 million.
