The Financial Conduct Authority announced that four companies interested in issuing a stablecoin will participate in its Regulatory Sandbox. Monee Financial Technologies, ReStabilise, Revolut and VVTX were selected out of 20 applicants. When the FCA opened applications in November 2025 it said it had already accepted a “major firm”, presumably Revolut.
Among the participants, it is Revolut that is already processing stablecoin transactions at scale. The Polygon network reported that Revolut has used it for $1 billion in USD stablecoin payments since joining last year, and Polygon is one of several blockchain networks used by Revolut.
Each of the sandbox companies has a slightly different positioning. For example, Monee Financial has applied to participate in the UK’s Digital Securities Sandbox. VVTX has a Layer 1 blockchain that it describes as “connecting Web2 payment rails with Web3 finance to create a unified platform around GBPV stablecoin.” And ReStabilise seems to have a multi-currency focus, anchored around GBP. That’s quite a notable angle given that the UK is the center of global FX.
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