Kamino has opened a lending market for tGBP, a British-pound stablecoin issued by BCP Technologies, registered with the UK’s Financial Conduct Authority. Users can supply tGBP or borrow against collateral including USDC, cbBTC and JitoSOL. The market is curated by Steakhouse Financial and creates sterling-denominated credit on Solana. This allows British users to borrow in their local currency, avoiding the foreign exchange risk associated with using dollar stablecoins. It remains to be seen whether users will actually adopt this market while dollar liquidity remains much deeper.
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