Revolut among firms picked by UK FCA to test stablecoin sandbox

The UK's Financial Conduct Authority (FCA) has chosen four companies—Revolut, Monee Financial Technologies, ReStabilise, and VVTX—to participate in trials for fiat-pegged stablecoins within a controlled regulatory sandbox. This program allows firms to test stablecoin products under real-world conditions with safeguards, helping the FCA refine its future policy and ensure rules are clear and effective for responsible innovation. This initiative aligns with the Bank of England's plans to advance stablecoin development for modernizing payments. The FCA and Bank of England are collaborating on comprehensive regulations for stablecoins, trading, lending, staking, and custody, expected later this year, with this sandbox selection being a crucial step in crafting those UK rules.

(Source：The Block)