Join Our Mailing List
Sunday September 24, 2023
Bitcoin (BTC) $26,577.12   Ethereum (ETH) $1,592.55
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Blockchain Assets

London Block Exchange launches GBP stablecoin in partnership with AlphaPoint

Published by CryptoNinjas.net
11/27/2018
London Block Exchange launches GBP stablecoin in partnership with AlphaPoint

London Block Exchange, a multi-cryptocurrency exchange dedicated to the UK market, today revealed that the first-ever digital pound sterling, generated on November 12th, was achieved through its partnership with AlphaPoint, the customizable distributed ledger, and digital asset platform.

GBP-Peg (GBPP) is a stablecoin that is pegged to the value of pound sterling (GBP) and is the first digital pound sterling ever mined and minted.

“AlphaPoint believes that digital assets and blockchain technology are going to fuel the creation of new wealth and LBX is a perfect example of how organizations are leveraging AlphaPoint’s transformative technology to help democratize access to the cryptocurrency markets and create new liquidity opportunities,” said Salil Donde, AlphaPoint Chief Executive Officer. “By digitizing the pound, firms can now accept GBPP for purchases without needing to move into and out of fiat.”

LBX has a segregated, onshore, and auditable UK bank account dedicated to GBPP. All GBP held in this account is represented by an equivalent number of GBPP tokens on the blockchain. GBPP and a future suite of stablecoins based on additional fiat currencies such as the Euro and the U.S. Dollar, will also leverage AlphaPoint’s asset digitization technology. LBX opened in November 2017 for OTC trades and, in addition to UK banking and a user-friendly app backed by world-class London-based customer service, it also follows rigorous KYC and AML protocols.

“GBPP will help boost mainstream usage of other cryptocurrencies by allowing investors to realize the technological benefits of instantaneous transactions, decreased volatility, and increased liquidity,” said Benjamin Dives, London Block Exchange CEO. “We are excited to partner with AlphaPoint, a globally trusted brand with technology that will help us deploy and maintain a robust network in a trusted and compliant manner.”

The digitization of GBPP will benefit businesses, traders, and consumers as it will enhance the seamless transfer of money across borders — making the transfer of money traceable, trustworthy, and frictionless; create a greater number of trading pairs, and open up more liquidity opportunities.

Details
  • The first ever GBPP was minted on November 12, 2018, at 11:00 AM GMT via LBX
  • GBPP is the first blockchain-based, fully collateralized and regularly audited token tied to the value of pound sterling and held in a segregated UK bank account on a 1:1 basis
  • GBPP is an ERC-621 token — building upon the ERC-20 standard — and will grant the required flexibility in the total supply to match the quantity of GBP held in the segregated bank account
  • GBPP will also be issued on other blockchains where compliance controls can be maintained
  • A wide range of use cases include payments to merchants and a smart contract-based distribution of dividends for a company’s shareholders
SubscribeE-MailXFacebookWhatsappTelegramRedditLinkedin

Related News

Crypto software firm AlphaPoint joins Bermuda Monetary Authority Innovation Hub

11/03/2021
Crypto software firm AlphaPoint joins Bermuda Monetary Authority Innovation Hub

AlphaPoint, a white label software company powering crypto exchanges, has announced its membership in the Bermuda Monetary Authority (BMA) Innovation Hub, an innovation track formed by the BMA. Participation in the Innovation Hub will...

Read more

BITPOINT utilizes AlphaPoint technology to upgrade its crypto exchange for Latin America

12/15/2020
BITPOINT utilizes AlphaPoint technology to upgrade its crypto exchange for Latin America

Today it was announced that Latin American-based crypto exchange BITPOINT will be using AlphaPoint technology for its upgraded exchange platform. The new platform is now live and offering on-ramp and off-ramp capabilities to the...

Read more

AlphaPoint launches Yield Platform to power crypto lending, staking and rewards

10/30/2020
AlphaPoint launches Yield Platform to power crypto lending, staking and rewards

Digital asset software company AlphaPoint today announced the launch of the AlphaPoint Yield Platform available for use by marketplace and wallet operators using the company’s technology. Exchange and brokerage operators will have the ability...

Read more

AlphaPoint-powered Thai crypto exchange ERX receives regulatory approval

07/21/2020
AlphaPoint-powered Thai crypto exchange ERX receives regulatory approval

ERX today announced that it has been granted a Digital Assets exchange license by the Thai SEC for operation in Thailand. Built using AlphaPoint’s white label Digital Asset Exchange software, ERX’s trading platform launch represents a...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Blockstream Mining Bitcoin

Blockstream launches bitcoin mining colocation and pool services

08/08/2019
Blockstream releases new platform for Liquid-sidechain security token issuance

Blockstream releases new platform for Liquid-sidechain security token issuance

05/15/2019
HashKey Exchange, Hong Kong's first licensed crypto exchange is now live

Hong Kong’s first licensed crypto exchange HashKey is now live

08/28/2023
Zilliqa blockchain combines incubation programs as it announces new grant winners

Zilliqa blockchain combines incubation programs; announces new grant winners

12/03/2019
BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

08/28/2023
HashKey Exchange, Hong Kong's first licensed crypto exchange is now live

Hong Kong’s first licensed crypto exchange HashKey is now live

08/28/2023
Adenasoft launches new crypto exchange white label solution: ACE

Adenasoft launches new crypto exchange white label solution: ACE

06/27/2023
Maximize Your ETH Investment: The ETHphoria Vault by Pods

Maximize Your ETH Investment: The ETHphoria Vault by Pods

06/21/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy