London Block Exchange Announces GBP-Backed Stablecoin

Announcements, Blockchain, News | October 1, 2018 By:

London Block Exchange (LBX), a multi-cryptocurrency exchange based in the UK, is partnering with an unnamed bank to create a new cryptocurrency pegged to the British pound.

Dubbed LBXPeg, LBX said in its announcement that the new cryptocurrency will be created on the ethereum blockchain and will be tied to the value of GBP held in an auditable UK bank account on a 1:1 basis.