The UK’s push toward stablecoin adoption moved a step forward Wednesday as the country’s financial regulator selected four firms, including Revolut, to test fiat-pegged tokens in a controlled sandbox.
Out of 20 applicants, the Financial Conduct Authority selected Revolut, Monee Financial Technologies, ReStabilise and VVTX to take part in the trials, according to a statement.
“The Regulatory Sandbox programme allows firms to trial stablecoin products in real-world conditions with appropriate safeguards,” the regulator said. “It will help the FCA assess its proposed policy in a live environment and ensure future rules are clear, effective and support responsible innovation.”
The move comes after the Bank of England said last month it plans to move ahead with stablecoin development. “Stablecoins have the potential to modernise retail and wholesale payments, enabling faster, cheaper and more efficient transactions,” Executive Director Sasha Mills said.
In the United States, overarching stablecoin legislation is in place via the GENIUS Act, signed into law last July, though regulators have yet to finalize how the rules will be implemented.
Both the FCA and the Bank of England are working in concert to develop a comprehensive set of regulations encompassing stablecoins, trading platforms, lending, staking, and custody, which are expected to be implemented later this year.
Wednesday’s selection is a key component of the FCA’s plan for crafting UK stablecoin rules.
“We are supporting UK stablecoin issuers to ensure they can be trusted for payments, settlement and trading, said Matthew Long, director of payments and digital assets at the FCA. “It will benefit consumers and financial transactions and help to deliver the FCA’s strategy and the Government’s National Payments Vision.”
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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