Tether to launch stablecoin tied to pound as UK aims to become crypto hub

Tether, the controversial “stablecoin” that underpins more than $60bn of the crypto economy, is launching a British version to capitalise on the UK government’s desire to make Britain a global cryptocurrency hub.

Like its US dollar counterpart, of which $67bn (£55bn) is actively traded on cryptocurrency markets, the digital asset will be built on the Ethereum blockchain, but its value will be set at £1.

“We believe that the United…