Sling Money Gains FCA Approval for Crypto Services in the UK
- Avian Labs’ Sling Money received approval from the U.K.’s Financial Conduct Authority (FCA) to operate as a crypto services provider.
- This follows a license obtained from the Dutch regulator in April, expanding its reach across Europe.
- Sling Money facilitates transactions using stablecoins like Paxos’ USDP and Circle’s EURC on the Solana blockchain.
- The app offers local currency withdrawals in over 80 countries through partnerships with regulated providers.
- Currently, Sling Money is available only as a closed beta program in the U.K.
The approval highlights a trend of increasing regulatory support for crypto payment firms as stablecoin-based transfers gain traction against traditional payment methods. Sling’s integration with bank accounts allows users to send digital dollars and euros globally within seconds.
With this new FCA approval, Sling Money joins a growing number of regulated crypto services, enhancing its ability to operate across multiple jurisdictions including access to the European Economic Area.(Source)
