Agant files with U.K. FCA in preparation for launch of British pound stablecoin

The issuer has successfully navigated a significant regulatory obstacle as it gets ready to launch GBPA, a fully backed sterling stablecoin aimed at institutional clientele.

Agant has registered with the U.K. FCA in anticipation of launching its GBP stablecoin. (Unsplash, modified by CoinDesk)

Key Information:

• Agant is now officially registered with the U.K. Financial Conduct Authority under regulations concerning money laundering.
• This authorization facilitates the issuance of GBPA, a fully backed 1:1 GBP stablecoin.
• The company is aiming at institutional payment solutions, settlement processes, and tokenized asset markets.

Stablecoin issuer Agant obtained registration as a cryptoasset business with the U.K.’s Financial Conduct Authority (FCA), achieving a regulatory milestone as it prepares to launch a pound-denominated stablecoin, according to a press release issued on Wednesday.

The registration, approved under the country’s money laundering regulations, allows the company to issue GBPA, a fully backed sterling stablecoin intended for institutional usage.

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Stablecoins, which are digital tokens generally pegged to fiat currencies or other reserve assets, serve as primary payment and cross-border settlement mechanisms in the cryptocurrency market. The sector is dominated by Tether’s dollar-pegged USDT, which has a market cap nearing $184 billion, followed by Circle Internet’s USDC.

Although dollar-based stablecoins lead the global market, pound-pegged alternatives are gaining traction as the U.K. progresses with its regulatory framework for crypto assets and stablecoins, aiming to establish London as a center for digital asset innovation. While adoption is currently limited compared to dollar-based options, enhanced regulatory clarity and institutional support could foster wider usage.

Upon its release, GBPA will join a market that already features Tokenised GBP (TGBP), which holds a market cap of $4.9 million, according to data from CoinGecko. This stablecoin intends to operate within the U.K.’s regulatory framework.

Smaller tokens such as VNX British Pound (VGBP) and Mento British Pound (GBPM) have market capitalizations in the low hundreds of thousands or even tens of thousands of dollars, highlighting the early stage of the GBP stablecoin sector.

Agant has stated that GBPA will be redeemable at a 1:1 ratio for pounds sterling and will be designed to function within the U.K.’s developing crypto regulatory environment. The firm seeks to integrate the token with conventional financial systems while utilizing blockchain’s programmability and settlement advantages.

Stablecoins have evolved from niche tools within the crypto world to become a foundational element of digital finance, with total market capitalization consistently hovering in the hundreds of billions of dollars and on-chain transaction volumes reaching multi-trillion-dollar figures.

The total supply has surged significantly in recent years, surpassing $280 billion–$300 billion in 2025, driven by increasing use in cross-border transactions, treasury management, and institutional liquidity strategies. Factors such as institutional adoption, clearer regulations, and integration with traditional financial frameworks are increasingly regarded as catalysts for growth, with projections indicating ongoing expansion into the broader global payments and settlement landscape.

“A well-structured GBP stablecoin lays a solid groundwork for innovation in payments, settlements, and tokenized assets within the U.K.,” stated Agant CEO Andrew MacKenzie in the announcement.

MacKenzie noted that the firm is collaborating closely with regulators, financial institutions, and global partners as it develops its platform.

Agant, which has its registered office in Stirling, Scotland, is committed to institutional digital finance and has indicated that the stablecoin will be fully backed and compliant with relevant U.K. laws and regulations.

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