Coinbase replaces GBP bank rails with tGBP stablecoin flow

GBP trading on Coinbase just got turned into a native stablecoin flow instead of relying on bank rails. tGBP is now listed as a pound-backed token, giving UK users an onchain way to hold and trade GBP without leaving the crypto stack.

There's already some real usage behind it: Rand Hindi said tGBP is powering GBP trading on Coinbase and has about $5 million equivalent sitting in a shielded (confidential) version on Zama. The push is being framed as stablecoins moving into the UK, with Coinbase effectively turning the pound into another exchange-native settlement layer.