Kamino Unveils Sterling-Denominated Lending Market for tGBP

Kamino, a Solana-based lending protocol, has expanded its services to include a sterling-denominated credit market for tGBP, a British-pound stablecoin issued by BCP Technologies.

The new market, curated by Steakhouse Financial, allows users to supply tGBP or borrow it against collateral including USDC, cbBTC, and JitoSOL.

This move brings a long-awaited feature to DeFi: the ability for users to borrow in their local currency. Historically, dollar stablecoins have dominated lending markets, but this development paves the way for more localized credit options.

tGBP is designed to track the British pound on a one-to-one basis and is issued by BCP Technologies, which is registered as a cryptoasset business with the UK's Financial Conduct Authority.