Digital currency platform Wirex extends its services, incorporating tGBP, providing regulated tokenised British Pounds to its 6 million user base.
Tokenised GBP Integrates with Wirex Platform, Bringing Instant Transactions and Global Accessibility
In an exciting development, Benoit Marzouk, CEO of Tokenised GBP, has expressed his thrill about partnering with Wirex to make tGBP easily accessible worldwide. This partnership is set to revolutionise the way GBP transactions are conducted, offering seamless, instant, and 24/7 transactions of GBP in a tokenized form.
The collaboration between Tokenised GBP and Wirex is exploring the launch of a fully branded card programme. This means that tGBP-linked cards may be issued, providing users with the convenience of carrying their GBP in a digital format. Stablecoin-backed current accounts will also be offered with tGBP on Wirex Pay.
The mission of Tokenised GBP is to bring regulated, transparent, and practical stablecoin infrastructure to businesses and consumers. By integrating tGBP into its platform, Wirex is offering its over six million users across 130+ countries the opportunity to access and transact with tGBP.
The tokenization of GBP on Wirex combines the stability and familiarity of GBP with the advantages of blockchain technology, such as immediacy, programmability, and global accessibility. This integration unlocks use cases like instant peer-to-peer transfers, programmable money via smart contracts, integration with DeFi protocols for staking and yield farming, and easy conversion between fiat and crypto within the Wirex ecosystem.
Other benefits of the tGBP integration include fractional ownership and programmable finance, borderless and low-cost cross-border payments, enhanced integration with crypto-trading, and improved compliance and regulatory adherence. tGBP is issued by a UK-based, FCA-registered cryptoasset firm and is managed under rigorous operational and regulatory oversight. It is backed 1:1 by GBP reserves held by authorized custodians.
Later this year, tGBP will be natively supported on WirexPayChain. Consumers and businesses worldwide may use tGBP-linked cards powered by Wirex Pay's infrastructure. Web3 BaaS offerings, including card issuing and IBAN services, will include tGBP on Wirex Pay. Corporate banking services will also be available with tGBP on Wirex Pay. Wirex now supports native minting and redemption of tGBP.
In conclusion, the integration of tGBP into the Wirex platform represents a significant enhancement over merely holding GBP in traditional bank accounts or even conventional stablecoins lacking explicit GBP backing on-regulated platforms. tGBP merges the trust and compliance of traditional finance with the programmability and accessibility of Web3, offering a promising future for GBP transactions in the digital age.
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