FCA Picks 4 Firms to Test Regulated Stablecoins in Groundbreaking Sandbox Program

The Digital <a href="https://usdaed.com/gbp-usd/">Pound</a> Race: FCA Taps 4 Firms to Pilot Regulated Stablecoins

Key Highlights

  • The FCA’s sandbox test would allow selected firms operate in a controlled environment while regulators understand how stablecoin issuance could work.
  • The sandbox will primarily focus on stablecoin issuance and related infrastructure.

The UK’s Financial Conduct Authority (FCA) is letting four companies trial their stablecoin services in a safe environment, called a regulatory sandbox, to see how they measure up to upcoming rules.

The program, revealed on Wednesday, will allow certain companies to test their stablecoin operations under regulatory supervision. This will help officials determine how to properly oversee stablecoin issuance in the future.

Almost 20 companies expressed interest in participating in the stablecoin program. However, the regulator chose Monee Financial Technologies, ReStabilise, Revolut, and VVTX to begin the first round of testing.

Focus on stablecoin issuance

This testing program will mainly explore how stablecoins are created and the systems that support them. Companies involved will get to try out their services in a live environment, but with oversight to ensure everything runs safely and legally.

The selected firms represent different stablecoin use cases, including:

  • Payment systems
  • Wholesale financial settlement
  • Crypto trading infrastructure

The FCA will keep a close watch on how these models perform and offer technical advice while they are being tested.

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2026-02-25 17:08