UK FCA Picks Four Companies for Stablecoin Sandbox Trials Starting 2026

Highlights:

• The FCA selected four firms from 20 applicants to test stablecoin services in its Regulatory Sandbox.
• This stablecoin testing programme will begin in Q1 2026 and help shape UK regulations.
• Trials will gather real data to build trusted stablecoins for payments, settlement, and trading.

The UK’s top financial regulator, the Financial Conduct Authority (FCA), has selected four companies to join a new stablecoin testing programme within its Regulatory Sandbox, according to a Wednesday announcement. This move represents a key phase in developing upcoming regulations for stablecoins and the broader digital asset sector.

The UK FCA has selected four firms—Monee, ReStabilise, Revolut, and VVTX—to test stablecoin issuance in its Regulatory Sandbox starting Q1 2026. The trials will help shape final UK stablecoin rules ahead of the broader crypto regime launching in October 2027.…

— Wu Blockchain (@WuBlockchain) February 25, 2026

FCA’s Stablecoin Sandbox Trials Aim to Shape UK Crypto Framework

Out of nearly 20 applicants, the FCA selected ReStabilise, Monee Financial Technologies, Revolut, and VVTX to participate in the stablecoin testing programme. These firms will trial their stablecoin services under proposed UK regulations, operating in a controlled environment where risks are closely monitored while new ideas can be safely explored.

The testing programme is scheduled to start in the first quarter of 2026. At that point, the selected companies will have the chance to show how their stablecoin services work in real market conditions. To begin, the pilot will cover several use cases. These include payments, wholesale settlement operations, and digital asset trading.

Matthew Long, Director of Payments and Digital Assets at the FCA, said the regulator will support stablecoin issuers. He added that the goal is to ensure their tokens can be trusted for payments, settlements, and trading. He noted that this testing will help consumers and strengthen financial transactions across the UK.

After that, the FCA aims to collect real data from the trials. With this information, regulators can shape final policy decisions. Previously, the regulator announced that the crypto authorization process is expected to open in September and the full regulatory rules will come into force in October 2027.

UK's FCA will open the crypto licensing gateway in September 2026, ahead of a new regime taking effect in October 2027. Existing AML or payments registrations will not carry over and must be re-approved. Firms that miss approval deadlines will be placed in a transitional regime,…

— Wu Blockchain (@WuBlockchain) January 9, 2026

UK FCA Strengthens Stablecoin Oversight Through Sandbox Testing

Meanwhile, the sandbox is part of the FCA’s broader effort to build confidence in stablecoins. By allowing companies to run pilots under supervision, the regulator can see how these digital tokens behave in real-world conditions. As a result, it will gain a clearer picture of how stablecoins might fit into the UK’s financial system once regulations are fully in place.

The chosen companies represent different parts of the digital finance world. For example, Monee and ReStabilise focus on stablecoin technology and reserve management. Meanwhile, Revolut offers a wider range of digital financial services. In contrast, VVTX is centred on institutional settlements and market infrastructure. Together, they bring varied perspectives on how stablecoins could connect with payments and trading systems.

At the same time, the Regulatory Sandbox has been an FCA tool for years. The FCA first created the sandbox to test fintech innovation in traditional finance. Now, the stablecoin-focused group is building on that experience and applying a new approach to digital assets.