The Sling Money cryptocurrency app receives regulatory approval in the UK - a new phase for stablecoin payments

The digital payments industry is at a pivotal moment. Companies offering cryptocurrency-related services are actively seeking licenses in key jurisdictions across Europe and the United States. In this context, Avian Labs has received approval from the Financial Conduct Authority (FCA) to operate in the UK, enabling its cryptocurrency application to further expand into the European market.

Expanding Regulatory Reach of Sling Money

Sling Money is not new to regulatory approval. Previously, the platform received authorization under the EU regulation Markets in Crypto-Assets (MiCA) from the Dutch regulator. The latest FCA decision marks another step in its internationalization strategy. The cryptocurrency application thus joins the ranks of crypto sector payment companies that are gaining rights to operate in major financial centers.

How Sling Money Works - Banking and Stablecoin Integration

Users can conduct transactions using stablecoins: USDP from Paxos for US dollars and EURC from Circle Internet for euros. A new feature is the direct linking of the app to bank accounts, allowing instant capital transfers between the traditional system and decentralized assets.

The Solana network infrastructure forms the backbone of this service — transactions occur instantly, enabling the sending or receiving of digital currencies within seconds regardless of geographic boundaries. Currently, Sling Money operates in a closed beta program exclusively in the UK, although it also holds Money Services Business status in North America.

Stablecoins Are Changing the International Payment Landscape

The stablecoin market is growing faster than expected. An alternative to traditional international transfers is gaining momentum, especially given the high fees and time-consuming nature of current systems.

BC Card from South Korea successfully demonstrated the technology — foreign tourists converted stablecoins into prepaid digital cards and made purchases at local retail outlets without issues. Meanwhile, Intuit has established a long-term partnership with Circle, integrating the USDC token across its entire application ecosystem — from Credit Karma and Mailchimp to QuickBooks and TurboTax.

This convergence of traditional tech platforms with stablecoin infrastructure opens new possibilities for transfers, refunds, and financial services that the existing banking network could not efficiently deliver.