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jGBP, the British Pound stablecoin

The jGBP stablecoin is a synthetic British Pound whose price is maintained via a peg mechanism with the USDC. It is created on Synthereum, the DeFi Forex protocol by Jarvis Network.

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What is the jGBP?

The jGBP is what is called a synthetic fiat currency, meaning that it is not anchored to an off-chain fiat reserve. Instead, it tracks the price of the British Pound against the price of the US dollar via a peg mechanism with USDC, one of the biggest and most trusted USD stablecoin on the market.

What is it for?

By being linked to the USDC and redeemable with it, the jGBP directly benefits from its vast liquidity and deep integration within the ecosystem. The jGBP can therefore be used for any type of volatility-free payment or trading operations on the Ethereum blockchain.

How is it created?

The jGBP is issued and can be exchanged on Synthereum, the on-chain Forex protocol developed by Jarvis Network.

It can be issued by a borrowing mechanism, where anyone can deposit USDC in the protocol and receive 75% of the deposit's value in jGBP. The liquidity provider receives in reward 50% of trading fees generated on Jarvis, as well as UMA tokens.

Where can it be exchanged?

Bridge Wallet lets you buy jGBP by bank transfer, and withdraw it in more than 20 fiat currencies back on your bank account. More info here.

It can be freely exchanged on app.jarvis.exchange for other jFiats or for USDC without any slippage, using Chainlink's price feeds. It can also be exchanged on other decentalized exchanges like Uniswap or Sushiswap, but with slippage.

Our rates for jGBP

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jGBP on-ramp currencies

The following currency pairs are available to purchase jGBP with our on-ramp service.

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