The UK’s Financial Conduct Authority (FCA) has officially selected four companies to pilot stablecoin solutions within a dedicated “regulatory sandbox.” Out of 20 applicants, Revolut, Monee Financial Technologies, ReStabilise, and VVTX were chosen to test their digital asset products under real-market conditions with active regulatory oversight.
A Laboratory for Future Finance
The program is designed to bridge the gap between innovation and legislation. By allowing these firms to operate within a controlled environment, the FCA aims to refine its upcoming supervisory policies through practical application.
Key areas of focus for the regulator include:
- Issuance Protocols: Deeply analyzing how stablecoins are minted and managed.
- Diverse Utility: The selected firms cover a broad spectrum of use cases, ranging from retail payments and wholesale settlements to high-frequency crypto trading.
- Direct Feedback: Each participant will receive specialized guidance from FCA experts, directly influencing the final regulatory framework for the United Kingdom.
Strengthening the UK Digital Hub
Matthew Long, the FCA’s Director of Payments and Digital Assets, emphasized that this initiative is a core component of the government’s National Payments Vision. By supporting domestic stablecoin issuers, the FCA intends to build a foundation of trust in digital transactions, benefiting both everyday consumers and large-scale financial institutions.
The testing phase is scheduled to launch in the first quarter of 2026. The data and insights gathered from these trials will be instrumental in shaping the UK’s definitive stablecoin rules, expected to be finalized later this year.
