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UK FCA Selects Revolut, Three Others for Stablecoin Sandbox Launching Q1 2025

The UK Financial Conduct Authority has selected Revolut, Monee, ReStabilise and VVTX to participate in a regulatory sandbox for payment stablecoins starting Q1 2025, the FCA announced. The pilots will test retail payments, cross-border transactions and institutional settlement, covering consumer integration, merchant adoption, reserve management, transparency and settlement solutions. Findings will inform consultations on final stablecoin regulations in 2026 ahead of the broader crypto framework due in October 2027, following the Financial Services and Markets Act 2023 that granted the FCA expanded powers over crypto promotions.
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