Kamino Brings Sterling Lending Onchain With tGBP Market
Kamino opened a sterling-denominated lending market on Solana for tGBP, a British-pound stablecoin issued by BCP Technologies. The market is curated by Steakhouse Financial and lets users supply tGBP or borrow against supported collateral in an isolated setup.
Key claims & sources
What it means
Users and lenders on Solana are the main group affected because Kamino has added a sterling-denominated market that accepts tGBP. That gives them a new place to supply a British-pound stablecoin or borrow against the listed collateral instead of only using dollar-based markets.
In practice, the market now allows tGBP supply and borrowing against USDC, cbBTC and JitoSOL in an isolated structure. The loan-to-value limits are set between 60% and 85%, while the market still keeps the sterling denomination that distinguishes it from the more common dollar stablecoins.
Market reaction i
Coverage timeline
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Bitcoinist
Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 44 days ago | Coinbase adds fixed-rate bitcoin-backed loans through Morpho Midnight event | 1 actors in common · 4 news media |
| 44 days ago | Circle launches Bitcoin-backed USDC borrowing for institutional clients event | 1 actors in common · 2 news media |