Coinbase Says Stablecoins Are Having An 'iPhone Moment' As It Launches Pound-Pegged Token

• Coinbase’s new tGBP token is issued by a U.K.-regulated entity and tied to the Financial Conduct Authority sandbox framework.
• Coinbase said stablecoins could improve payment efficiency, reduce FX exposure, and support tokenized financial markets.
• The global stablecoin market capitalization has surpassed $320 billion, led by USDT and USDC.

Shares of Coinbase (COIN) gained in morning trade on Wednesday after the company said that stablecoins were having an “iPhone moment” as it launched a new pound-backed stablecoin, tGBP. 

COIN’s stock rose over 5% in morning trade amid strength in the broader equities and cryptocurrency markets after President Donald Trump said the U.S. would be extending the ceasefire with Iran. On Stocktwits, retail sentiment around Coinbase rose to ‘extremely bullish’ from ‘bullish’ territory over the past day, accompanied by chatter at ‘high’ levels. 

Bitcoin (BTC) rose more than 3.3% in the last 24 hours to around $78,300. Retail sentiment around the apex cryptocurrency on Stocktwits remained in ‘bullish’ territory, while chatter rose to ‘high’ from ‘normal’ levels over the past day. 

Stablecoins ‘iPhone’ Moment

Data from DeFiLamma showed that the total stablecoin market capitalization has crossed a record $320 billion, with dollar-denominated stablecoins leading the chart. Tether (USDT) currently leads with a market share of $188 billion, followed by USDC (USDC) at $77 billion. Coinbase is one of the original founders of the USDC ecosystem and remains a major distribution and yield‑play partner for the stablecoin in partnership with Circle (CRCL). 

On Stocktwits, retail sentiment around USDT trended in ‘extremely bullish’ territory over the past day, while sentiment around USDC slipped to ‘bearish’ from the ‘neutral’ zone.

Meanwhile, global regulation around stablecoins is also gaining momentum. According to Coinbase, in order for U.K. to establish itself as a global hub for digital assets, regulators must ensure a supportive regulatory framework. The company pointed to several priorities, including allowing stablecoins to compete with other forms of digital money, avoiding restrictive caps on issuance, and permitting their use in settlement for tokenized financial markets outside sandbox environments.

The comments come as the CLARITY Act remains stalled in U.S. jurisdiction. Lawmakers are reportedly aiming for a markup in the final two weeks of April, but others have warned it could get pushed to May if the debate over stablecoin rewards is not resolved.

Coinbase said the launch of tGBP is part of its international expansion strategy, aimed at supporting locally denominated stablecoins in key markets. It stated that the new token is issued by BCP Technologies, which is registered with the Financial Conduct Authority and has participated in its regulatory sandbox.

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