Crypto Corner: Introducing Moneybrain’s Digital Pound

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IN this week’s Crypto Corner, the team focuses on a new type of money known as stablecoins, which is set for lift-off, leaving proposed Government Central Bank Digital Currencies in the dust.

Following the White House announcement banning CBDCs, stablecoins are poised for growth and Jersey has already started its engines.

Thanks to the Moneybrain team and the support of Digital Jersey, a major step was taken in November 2024 at an event at The Royal Yacht Hotel, at which Moneybrain unveiled its stablecoin offering: the Digital Pound.

What’s the difference?

The main difference between GBPB and the pound in your banking app are the frictionless payment rails you can enjoy once you open a Moneybrain account. As with all stablecoins, GBPB is backed by a 1:1 sterling liquid and regulated reserve, meaning that every GBPB issued is backed.

Applications of stablecoins

Battling card-reader fees: Businesses can set up a free account and accept GBPB payments through QR codes, avoiding mainstream card reader fees.
Digital money: After completing KYC verification, customers can use the GBPB at participating stores, send money, exchange currency and cash out to their bank account.
Low transaction fees: Our ecosystem offers faster, cost-effective transactions, with fees as low as a penny.

Discounts

Blockchain technology allows us to introduce additional consumer benefits, as seen, for example, at Pebble Home and Lifestyle boutique in St Helier, which already gives a 10% discount when spending GBPB.

Sign up for the Moneybrain app today

At Moneybrain, we enable you to hold our native stablecoins, which are pegged to the relative fiat values of GBP, USD, EUR and AUD, so you can live your life in the currency of your choice.

Set up your account and start holding stablecoins today at moneybrain.com, available on Apple and Android.