Can Tether Actually Back a New Stablecoin like GBPT?

Tether has announced earlier today that it will be launching a new stablecoin to be pegged to the price of the British Pound Sterling, and will be appropriately named GBP₮. It should also be noted that the token will not be available to users whose keyboard does not contain the ₮ symbol.

For those with fancy keyboards, Tether’s new stablecoin is due to launch in early July…