Agant, a British stablecoin startup, is set to revolutionize the digital finance landscape in the UK with the launch of GBPA. This new pound sterling stablecoin aims to provide a regulatory-compliant alternative to existing stablecoins, addressing the demand for regulated digital currency solutions in the market.
The inspiration behind GBPA came from the team’s personal need to settle transactions and store value on-chain in their native currency, pound sterling. Unlike some other stablecoin providers, Agant has taken a compliance-first approach, actively engaging with UK regulators such as the Financial Conduct Authority (FCA) and the Bank of England.
To ensure stability and liquidity, GBPA will be backed 1:1 by a combination of cash and approved high-quality liquid assets (HQLA), meeting regulatory requirements. Client funds will be held in segregated accounts, and partnerships with liquidity providers and market makers will ensure sufficient market liquidity.
In addition to its robust backing strategy, Agant has also formed strategic partnerships with major blockchain ecosystems like Solana, Avalanche, and Ethereum. The company has collaborations with industry leaders such as Archax, Copper, and Fireblocks, and is utilizing LayerZero technology for cross-chain functionality.
One of the key advantages of GBPA is its potential to transform the UK’s remittance market, which currently incurs high fees and long processing times. With blockchain technology, Agant aims to significantly reduce costs associated with remittances and cross-border payments.
Looking ahead to 2025, Agant plans to expand its offerings by launching the platform publicly, integrating DeFi institutional tooling, and developing remittance and payment solutions. The company’s revenue model combines transaction fees with yield generation from holding client funds in highly liquid assets, aligning with regulatory standards for long-term success.
Overall, Agant’s GBPA represents a significant step towards bridging traditional finance with digital assets in the UK. As the country positions itself as a hub for financial innovation, the development of GBPA could potentially reshape how the UK engages with blockchain technology and digital payments in the future.