Kamino Brings Sterling Lending to Solana with tGBP Market

Kamino has introduced a sterling lending market on its Solana protocol, allowing users to borrow against cryptocurrency collateral in British pounds. The tGBP market, curated by Steakhouse Financial, enables suppliers to lend or borrowers to take out loans denominated in the pound.

The introduction of tGBP as a stablecoin aims to track the British pound's value on a one-to-one basis and is issued by BCP Technologies, a registered cryptoasset business with the UK's Financial Conduct Authority. This move creates a use case that DeFi has historically struggled to serve, particularly for users or businesses with expenses and accounting denominated in pounds.

The launch of the tGBP market does not suddenly make sterling a major on-chain currency, as dollar stablecoins remain vastly larger and more liquid across crypto markets. Building a non-dollar lending market requires more than creating the token; it needs enough lenders and borrowers to keep rates competitive and liquidity usable.