UK FCA Selects Four Firms for Stablecoin Sandbox Trial

The Financial Conduct Authority (FCA) has selected four firms to participate in its stablecoin sandbox, bringing the UK closer to finalizing rules for digital assets pegged to fiat currencies.

Among the chosen firms are Monee Financial Technologies, ReStabilise, Revolut, and VVTX. The FCA received 20 applications and narrowed down the list to projects that reflect different stablecoin use cases, including payments, settlement, and crypto trading.

The sandbox will provide a controlled environment for testing proposed requirements before they are implemented in full scale deployment under UK law. Participants will operate under their existing permissions and registrations while the regulator observes how issuance, custody, and reserve management function under draft rules.