wstGBP is a yield-bearing wrapper around tGBP. Holding wstGBP gives you GBP exposure through tGBP, plus a return that accrues into the wstGBP↔tGBP exchange rate: your wstGBP balance does not change, but each wstGBP redeems for more tGBP over time. That return is funded under a commercial agreement between BCP Technologies and Wren Sterling (BVI) Ltd, which issues wstGBP.

tGBP is a GBP stablecoin backed 1:1 by sterling cash and short-term UK government bonds, issued by BCP Technologies (FCA-registered). wstGBP wraps and unwraps tGBP. It does not change what tGBP is. Wren Sterling (BVI) Ltd is not affiliated with BCP Technologies except by business agreement. More at tokenisedgbp.com.

From a commercial agreement between BCP Technologies (which issues tGBP) and Wren Sterling (BVI) Ltd (which issues wstGBP), funded from the UK gilt, sterling cash, and money market reserves backing tGBP. Wren passes this return to holders through the rising wstGBP↔tGBP exchange rate. The Estimated Yield figure in the sidebar is a current estimate, not a guarantee, and will move with the market.

You approve the wstGBP contract to spend your tGBP and then click Mint. The contract converts your tGBP into wstGBP at the current mint price in a single transaction. No waiting period.

You click Redeem with the amount of wstGBP you want to unwrap. The contract handles redemption on-chain, with no custodian approval step. You receive tGBP back in the same transaction, net of a 25 bps redemption fee included in the exchange rate.

Plain tGBP does not accrue this return to your wallet. wstGBP does, via the rising exchange rate. wstGBP can also be used as collateral or in pools where it is integrated.

Minting wstGBP has no fee. Redeeming applies a 25 bps fee included in the contract’s redeem price. There is no separate UI fee.

• Underlying risk: wstGBP inherits the risks of tGBP itself, including issuer risk, reserve custody risk, and the UK regulatory regime.
• Yield variability: the rate is not fixed; it varies with the returns on the underlying reserves and the terms of the commercial agreement.
• Smart contract risk: the wstGBP contract is open source and on-chain, and has received a clean audit from Prototech Labs. As with any DeFi protocol, residual risk remains.
• FX risk: wstGBP is sterling-denominated. If your unit of account is not GBP, you are exposed to GBP exchange-rate movement.