Sling Money gets UK FCA approval to offer crypto services
On December 24, 2025, Avian Labs, the developer of the crypto payments app Sling Money, received official approval from the UK's Financial Conduct Authority (FCA) to operate as a crypto services provider.
Key Highlights of the Approval
Expansion of Regulatory Reach: The FCA approval follows a prior license from the Dutch regulator in April 2025, strengthening Sling Money's presence across Europe alongside its existing regulation in the U.S..
Operational Readiness: While the app has been available in the UK in a closed beta phase, the new authorization allows it to transition toward a full launch.
Blockchain Infrastructure: The platform utilizes the Solana blockchain to facilitate instant fund transfers and supports local currency withdrawals in 80 countries.
Context: Growing Popularity of Stablecoin Payments
The approval comes as stablecoin-based transfers gain traction as a mainstream alternative to traditional cross-border payments.
Market Growth: In 2025, the global stablecoin market cap surged past $300 billion, with monthly transfer volumes exceeding $2 trillion.
Strategic Advantage: Industry data shows that 48% of firms prioritize real-time settlement as the primary benefit of stablecoins, favoring speed over traditional cost savings.
UK Regulatory Roadmap: The UK government has been actively developing a regulatory framework for stablecoins, with the Bank of England and FCA recently consulting on rules for "systemic stablecoins" to be used in retail payments.
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