Group 1: Company Developments - Agant has received registration as a cryptoasset business from the U.K.'s Financial Conduct Authority (FCA), allowing it to introduce a pound-denominated stablecoin, GBPA [1] - GBPA will be fully backed by pounds sterling and is designed for institutional use, aiming to integrate with traditional financial infrastructure while utilizing blockchain technology [5] Group 2: Industry Context - Stablecoins serve as the primary payment and cross-border settlement mechanisms in the crypto market, with Tether's USDT leading the sector at a market capitalization of nearly $184 billion [2] - The U.K. is advancing its regulatory framework for crypto assets and stablecoins, which could enhance the adoption of pound-pegged stablecoins despite current limited usage compared to dollar-based alternatives [3] - The GBP stablecoin market is still in its early stages, with existing tokens like Tokenised GBP (TGBP) having a market cap of $4.9 million, while smaller tokens have market caps in the low hundreds of thousands [4] Group 3: Market Trends - The total supply of stablecoins has significantly increased, projected to exceed $280 billion to $300 billion by 2025, driven by their use in cross-border payments and institutional liquidity management [7] - Institutional adoption and regulatory clarity are key growth drivers for the stablecoin market, suggesting ongoing expansion into the global payments and settlement ecosystem [7]