BCP settles $GOVY US T‑Bill using tGBP on Archax

BCP Technologies completed a live transaction for the $GOVY tokenised US Treasury bill, settling the digital bond on the Archax platform using tGBP, a fully backed sterling stablecoin issued by an FCA-registered firm.

The trade was executed entirely on-chain on Archax, a regulated digital-asset venue operating in the UK, EU and US. Settlement used blockchain-native pound sterling represented by tGBP rather than traditional banking payment rails. The parties completed delivery-versus-payment settlement nearly instantly and around the clock.

BCP and Archax have worked together to give tGBP holders access to tokenised real-world assets, including money market funds, government securities and corporate bonds. The firms described the $GOVY trade as a live production transaction executed before many institutions enter the Bank of England’s Digital Securities Sandbox.

Tokenisation of bonds can enable fractional ownership, programmable coupon payments and on-chain recordkeeping of transactions. In this transaction the bond was denominated in US dollars while settlement took place in blockchain-native sterling, with all steps occurring on blockchain infrastructure.

Benoit Marzouk, CEO and founder of BCP Technologies, described the transaction as evidence that blockchain-native cash can operate alongside digital securities to deliver near-instant and transparent settlement and to support programmable market processes.

Graham Rodford, CEO and co-founder of Archax, highlighted that tGBP provides a sterling settlement instrument that moves at the same speed as digital assets and noted the trade was completed delivery-versus-payment fully on-chain.

The deal adds to recent activity in tokenised real-world assets, where firms and market infrastructure providers are testing issuance, trading, settlement and custody models that can operate on blockchain networks.