AGANT TO LAUNCH POUND STERLING STABLECOIN OFFERING IN THE UK

FRIDAY 6 DECEMBER, 2024, LONDON/EDINBURGH,: Agant has announced that it is building a GBP stablecoin (GBPA), which will be domiciled and regulated in the UK. The company aims to provide the foundation layer for on-chain financial services in the UK and beyond. GBPA will be a digital representation of the pound sterling, fully backed and redeemable 1:1, and will be fully compliant with all applicable UK laws and regulations. Agant is seizing the opportunity to bring the world’s fourth largest currency on-chain, and to provide a privately-issued, regulated platform for innovation to support the UK’s thriving Fintech and digital assets ecosystem.

Agant envisages that GBPA will be used as a means of value transfer in a wide range of use cases, including but not limited to digital asset trading and settlement, on-chain FX, retail applications and peer-to-peer transactions. The firm is working with a range of market participants and innovators to develop the Agant ecosystem.

By issuing a GBP stablecoin, Agant is building on the trend of local issuers in regional jurisdictions, with a strong grasp of both domestic markets and requirements as well as a global outlook for their products. Agant’s intent is that GBPA should be a stablecoin that builds the UK’s digital currency capability both domestically and globally. As a privately-issued GBP stablecoin, GBPA will sit alongside any future UK digital Pound CBDC - and other private issuances - and Agant sees all these new forms of digital money coexisting in a diverse ecosystem to bring social and economic benefits to the UK economy and to its user base and community globally.

Agant is a member of a number of trade associations focusing on the well-designed implementation of digital currencies including the Digital Pound Foundation where it plays an active part in the Policy, Legal and Regulatory Working Group. Agant also recently announced that it had formed a strategic partnership with Stablecoin Standard, the industry body for stablecoin issuers globally. Agant was the first to join a new cohort of ‘Pending Issuers’ who are yet to go live but demonstrate a desire to follow the recently released ‘Stablecoin Standards’ and industry best practices.

Andrew MacKenzie, Founder of Agant, said: “As interest in digital currencies rapidly continues to grow, Agant’s mission is to bring trust, transparency, and innovation to the digital currency space through our privately issued digital pound, GBPA. We are excited to be launching in the UK and looking forward to making additional announcements about our industry partnerships in the near future”.

ABOUT AGANT
Agant is an aspiring GBP sterling stablecoin issuer, based in the UK. Our vision is to provide the foundation layer for on-chain financial services in the UK and further afield. GBPA is a sterling-denominated stablecoin to be issued by Agant. GBPA will be a digital representation of the pound sterling, fully backed and redeemable 1:1, and fully compliant with all applicable UK laws and regulations.

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