UK Regulator Selects Four Firms to Trial Stablecoins in Regulatory Sandbox

The UK's Financial Conduct Authority (FCA) has selected four fintech companies to participate in its stablecoin Regulatory Sandbox programme. This programme will allow the participating companies to trial their stablecoin products in real-world conditions, with a focus on issuance.

The FCA has chosen Revolut, Monee Financial Technologies, ReStabilise, and VVTX to take part in this pilot. The regulator believes that these four firms represent a broad range of use cases for stablecoins, from payments and wholesale settlement to crypto-asset trading.

The programme will also provide input from FCA specialists to help shape the UK's final stablecoin rules later this year. According to the FCA, the goal of this pilot is to ensure that stablecoin issuers can be trusted for payments, settlement, and trading.