Fintech company Revolut plans to test a stablecoin for the U.K as part of a regulatory sandbox created by the FCA (Financial Conduct Authority)—the country’s main financial regulator—to test out the applications of the asset class, as per an official announcement on Wednesday.
Apart from Revolut, the FCA also picked ReStabilise, Monee Financial Technologies, and VVTX.
‘We are supporting UK stablecoin issuers to ensure they can be trusted for payments, settlement and trading,” said Digital Assets director Matthew Long.
While the focus of the testing will mainly be the issuance of stablecoins, the FCA will also review proposals made by the four firms about the range of possible applications with stablecoins, such as payments, bulk settlements, and cryptocurrency trading.
This will be a new venture of sorts for Revolut as well, as its main products and services include payment services, account management, and multi-currency services. Created in 2015, Revolut only began experimenting with cryptocurrency and creating user-facing services as early as 2025.
As the company gears up for a potential IPO, Revolut’s CEO Nik Storonsky now helms the company from Dubai, one of many high-profile millionaires and billionaires who have moved from various parts of Europe to the city emirate for multiple reasons, some of which are 0% taxes and an overall business-friendly climate.
Testing for the regulatory sandbox programme is expected to start in Q1 2026.