The British stablecoin issuer BCP Technologies is proud to announce the successful completion of its first-ever transaction of the $GOVY tokenised US T-Bill by Archax, settled using tGBP, the UK's premier GBP stablecoin issued by an FCA Registered firm.
The landmark transaction marks another major milestone in the evolution of the UK's digital capital markets. $GOVY is the first digital bond to be purchased and settled using tGBP, demonstrating how blockchain-native cash can seamlessly support the issuance, trading, and settlement of tokenised fixed-income securities.
The transaction was completed through Archax, a UK/EU/US regulated digital asset platform, further strengthening the UK's position as a global leader in regulated digital finance. The milestone builds upon the growing adoption of tokenised real-world assets (RWAs), following recent advances in tokenised money market funds (MMFs), UK gilts, and digital securities.
Bringing Capital Markets Fully On-Chain
While tokenisation has successfully brought traditional financial assets such as funds, bonds and equities onto blockchain networks, settlement has often remained dependent on traditional banking rails.
The use of tGBP changes that.
As a fully backed, blockchain-native representation of pound sterling, tGBP enables investors to settle transactions nearly instantly, 24 hours a day, without relying on traditional payment infrastructure or introducing settlement delays.
By combining aspirant regulated digital securities with aspirant regulated digital cash, the transaction demonstrates what fully on-chain capital markets can look like:
-Nearly instant settlement
-Reduced counterparty and settlement risk
-Programmable payments through smart contracts
-Lower operational costs
-Greater interoperability between tokenised assets
This represents an important step towards a financial system where issuance, trading, settlement, and custody all occur natively on blockchain infrastructure.
Unlocking the Tokenised Bond Market
The tokenisation of bonds has the potential to transform one of the world's largest asset classes.
Digital bonds can offer:
-Near real-time settlement
-Fractional ownership
-Increased market accessibility
-Automated coupon payments
-Enhanced transparency
-Greater operational efficiency
When combined with a stablecoin such as tGBP, the entire transaction lifecycle can be executed on-chain, significantly reducing friction compared with traditional settlement models.
A Growing Tokenised Ecosystem
Earlier this year, BCP Technologies announced its partnership with Archax, allowing tGBP holders to access a broad range of tokenised real-world assets, including money market funds, government securities, bonds and other institutional investment products.
This $GOVY digital bond transaction represents the next phase of that collaboration, demonstrating that sterling stablecoins are becoming an essential piece of infrastructure for institutional digital asset markets.
A Milestone for the UK
The successful settlement of the $GOVY digital bond using tGBP represents more than a technological milestone; it is a live production transaction completed months ahead of where much of the market currently stands.
While many institutions are preparing to participate in the Bank of England's Digital Securities Sandbox (DSS) to explore how digital bonds and digital cash can operate together in a controlled testing environment, this transaction demonstrates that blockchain-native settlement is already possible today using existing market infrastructure. Rather than a proof of concept or a simulated transaction, the settlement of $GOVY using tGBP was executed in the real world, showing that market participants and infrastructure are sufficiently mature to support live capital market activity.
Benoit Marzouk, CEO and founder of BCP Technologies, said:
"The future of capital markets is not simply about tokenising assets it is about tokenising the entire transaction lifecycle. By settling the $GOVY digital bond using tGBP, we have demonstrated that blockchain-native cash can operate alongside digital securities to deliver nearly instant, efficient, and transparent settlement. This is another important step towards building truly programmable financial markets."
Graham Rodford, CEO and co-founder of Archax, adds: “Digital assets and digital cash need each other. tGBP gives the UK market a sterling settlement instrument that moves at the same speed as the digital assets it is buying – and $GOVY is exactly the kind of asset that benefits. Delivery versus payment, fully on-chain, and in production. With $GOVY in USD and tGBP in sterling, this demonstrates nicely cross-border interoperability too.”
As institutional adoption accelerates, tGBP continues to position itself as the leading sterling stablecoin for regulated financial markets, enabling payments, settlement, and investment across an expanding ecosystem of tokenised real-world assets.
"Tokenised GBP" by BCP Technologies Ltd:
Archax (for Professional Investors only) by Archax Ltd:
