Revolut Tests Pound Stablecoin in UK Sandbox
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https://v.social/s/gFd6fqU
Revolut has been selected by the UK Financial Conduct Authority to take part in a regulatory sandbox trial exploring pound-pegged stablecoins. The sandbox allows firms to test new financial products under supervision before full rules are finalised.
Revolut plans to trial a stablecoin backed 1:1 by the British pound. The test will examine real world use cases including payments, settlement and crypto trading. Three other firms were also chosen from a group of applicants to participate.
The FCA says the goal is to gather evidence on how stablecoins function in practice while protecting consumers. Insights from the trial are expected to inform the UK’s future stablecoin framework.
Stablecoins are digital tokens designed to maintain a fixed value by holding reserves equal to the currency they represent. If successful, the trial could support broader use of sterling-based digital money in everyday financial services.
The sandbox reflects the UK’s approach of balancing innovation with regulation as digital assets move closer to mainstream finance.
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