tGBP, issued by BCP Technologies Ltd, is a fiat-backed stablecoin pegged 1:1 to the British Pound Sterling (GBP) that represents solely a right to redeem an equivalent value of GBP through the holder's account with BCP. [S1][S2]

Each tGBP tracks one British Pound (GBP) and is fully backed 1:1 by GBP-denominated assets equal to the circulating supply, comprising cash and bank deposits, GBP money market funds, and short-term UK gilts. [S1][S2][S3] As of June 23, 2026, reserves total approximately £23.64M against issued tokens of approximately £23.59M. [S4] tGBP is not yield-bearing and confers no interest or economic benefit; holders bear minting and redemption fees, typically less than 0.1%, plus network gas fees. [S2][S3]

BCP Technologies Ltd, based in the United Kingdom, is registered with the United Kingdom Financial Conduct Authority (FCA) under firm reference number 928840 for cryptoasset activities under the Money Laundering Regulations 2017; tGBP itself is not regulated and is not e-money. [S1][S2] tGBP is not protected by the UK Financial Services Compensation Scheme (FSCS). [S1] Minting is available to eligible businesses holding a UK bank account, subject to KYC and AML verification; users must be at least 18 and not a Restricted Person. [S2] Reserves are held in segregated accounts at regulated UK institutions for the exclusive benefit of users, and BCP redeems 1 tGBP for £1 less fees. [S2]

BCP markets tGBP across six networks: Ethereum, Base, Solana, Polygon, BNB Chain, and Avalanche. [S1][S3][S4] Eligible businesses mint by transferring GBP via Faster Payments or CHAPS, receiving tokens 1:1; redemption returns GBP to a verified bank account. [S1][S3] Reserve data updates daily onchain, with independent monthly Proof-of-Reserve attestations. [S4]

<Sources
  retrievedAt="2026-06-23"
  items={[
    { id: "S1", url: "https://www.tokenisedgbp.com/" },
    { id: "S2", url: "https://www.tokenisedgbp.com/terms" },
    { id: "S3", url: "https://www.tokenisedgbp.com/faq" },
    { id: "S4", url: "https://www.tokenisedgbp.com/transparency" },
  ]}
/>


# Asset holders methodology

## 1. Overview

Asset holders is measured as the number of unique addresses that hold a non-zero balance of a project’s assets. This metric is used by investors to track the expansion or contraction of the asset holder base over time. Data is aggregated daily for each tracked asset across all supported blockchain networks.

## 2. Data sources

- **EVM chain data**: Ledger state and ERC-20 `Transfer` events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others).
- **Solana instructions**: SPL token account data and transfer instructions.
- **Other chain types**: Account and balance data from Aptos, Near, and Polkadot Asset Hub.
- **Asset metadata**: Token contract addresses and decimal precision retrieved from asset metadata.

## 3. Step-by-step calculation

### Component A: Address balance identification

- **Purpose**: Identify all unique addresses associated with a specific token and determine their current holdings.
- **Logic**: For EVM-compatible chains, balances are derived by parsing ERC-20 `Transfer` events or by querying the ledger state for all addresses that have interacted with the token contract. On Solana, account balances are retrieved from the SPL token program. Similar account-based balance records are extracted for Aptos, Near, and Polkadot Asset Hub to identify the population of potential holders.
- **Key fields**: `token_address` (the contract address of the asset), `address` (the unique identifier of the holder), `timestamp` (the time of the state record).

### Component B: Normalization and non-zero filtering

- **Purpose**: Ensure token amounts are accurate and exclude addresses that no longer hold the asset.
- **Logic**: Decimal precision is retrieved from token metadata for each asset. All raw amounts are normalized by decimal precision. A filter is applied to exclude any address where the resulting balance is zero. Only addresses with a positive balance are retained for the final count.
- **Key fields**: `amount` (the normalized quantity of tokens held), `decimals` (the precision factor for the asset).

### Component C: Daily aggregation and gap filling

- **Purpose**: Calculate the final daily count and ensure continuity in the time series.
- **Logic**: Unique addresses are counted for each asset per chain on a daily grain. The data is combined across all chains to provide a total holder count per asset. For days where no new balance changes are recorded, the metric is filled with zero values or the previous known state is maintained to ensure a continuous daily record.
- **Key fields**: `asset_holders` (the count of unique addresses), `timestamp` (the day of the observation).

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique addresses holding a non-zero balance of the asset.

Asset holders

Stablecoins

Each tGBP is fully collateralised 1:1 by sterling reserves held in a segregated account at a UK-regulated financial institution and short-term zero-coupon HM Treasury bonds, and is redeemable for GBP at any time.

Tokenised GBP (tGBP) is a British Pound-pegged stablecoin maintaining a 1:1 peg to GBP. It is the first live, FCA-regulated sterling-denominated stablecoin, deployed across Ethereum, Solana, Base, BNB Smart Chain, Polygon, and Avalanche for on-chain sterling payments.

tGBP is issued by BCP Technologies, a UK FCA-registered cryptoasset firm led by founder and CEO Benoit Marzouk, which completed the FCA's regulatory sandbox programme.

website

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Stablecoin issuers

Tokenised GBP

Tokenised GBP (tGBP) is a British Pound stablecoin issued by Tokenised GBP through BCP Technologies Ltd.

Each token is redeemable one-for-one for British Pound and is a direct claim on the issuer.

Reserves are held in cash and other assets, in accounts segregated from the issuer's own funds, attested monthly by Andersen LLP.

Institutions can mint and redeem directly with Tokenised GBP in GBP after completing KYC, and holders have a contractual right to redeem at par.

BCP Technologies Ltd is authorised in the United Kingdom and is supervised by the UK Financial Conduct Authority (FCA).

Holder terms are governed by the law of GB-ENG in the United Kingdom.

tGBP has been issued on public blockchains since August 2025 and is native to Ethereum, Polygon, Solana, Avalanche, BNB Chain, and Base.

Tokenised GBPtGBP