Tether to launch stablecoin tied to pound as UK aims to become crypto hub
by Alex Hern Technology editor from on (#60MSE)
Launch of digital asset to track value of 1 comes despite contraction of cryptocurrency sector
Tether, the controversial stablecoin" that underpins more than $60bn of the crypto economy, is launching a British version to capitalise on the UK government's desire to make Britain a global cryptocurrency hub.
Like its US dollar counterpart, of which $67bn (55bn) are actively traded on cryptocurrency markets, the launch will see a digital asset built on the Ethereum blockchain, with its value set at 1.
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