UK’s Financial Conduct Authority (FCA) has selected four companies to test their stablecoin services under proposed regulation within a controlled environment.

This forms part of the FCA’s commitment to supporting growth and innovation in UK financial services.

From 20 applications, the chosen firms are Monee Financial Technologies, ReStabilise, Revolut, and VVTX.

The Regulatory Sandbox programme allows firms to trial stablecoin products in real-world conditions with appropriate safeguards.

It will enable the FCA to assess its proposed policy in practice and ensure future rules are clear, effective, and support responsible innovation.

Testing will primarily focus on stablecoin issuance. The selected firms’ proposals cover a range of use cases, including payments, wholesale settlement, and crypto trading.

Each firm will receive feedback from FCA specialists while contributing to the development of the UK’s regulatory approach.

Matthew Long, Director of Payments and Digital Assets at the FCA, said:

“We are supporting UK stablecoin issuers to ensure they can be trusted for payments, settlement and trading. It will benefit consumers and financial transactions and help to deliver the FCA’s strategy and the Government’s National Payments Vision.”

The testing is part of the FCA’s wider efforts to enable innovation in UK financial services and complements other initiatives, including the Digital Securities Sandbox.

Testing is set to begin in Q1 2026, with findings expected to inform the UK’s final stablecoin rules later that year.

Featured image credit: Edited by Fintech News Switzerland, based on image by nijieimuart via Freepik