The London Blockchain Exchange (LBX) has announced the launch of a UK Pound Sterling (GBP)-pegged cryptocurrency stablecoin called LBXPeg.

In a statement posted on its website, the United Kingdom-based startup revealed that the so-called "cryptopound" will be tied to the value of GBP held in an auditable U.K. bank account on a 1:1 basis.

The company said tha