Sling Money Approved by FCA to Offer Stablecoin Payments in UK

Sling Money, a Solana-based payments app from Avian Labs, has secured registration with the UK Financial Conduct Authority (FCA) as a Virtual Asset Service Provider, authorising it to offer crypto services in the UK. The FCA registration requires compliance with UK Money Laundering Regulations, including AML and KYC obligations, but does not grant consumer protections such as the Financial Ombudsman or FSCS coverage. Sling Money already holds EU approval under MiCA via Dutch regulators and is registered as a Money Services Business in the United States. The app supports Paxos’ USDP and Circle’s euro-backed EURC stablecoins, routes transfers over the Solana (SOL) blockchain for low-cost, fast settlement, links users’ bank accounts for direct fund transfers alongside in-app custody, and is currently in closed beta in the UK. This expanded regulatory footprint in Europe underscores growing regulatory scrutiny and mainstream adoption of stablecoins for cross-border and real-time payments. Traders should note the emphasis on compliant onramps, support for USDP and EURC stablecoins, and continued use of Solana rails, all of which can affect liquidity, settlement speed and counterparty risk in stablecoin payment flows.