UK Regulator Approves Sling Money as Stablecoin Payment Demand Grows
What Did the FCA Approve?
Avian Labs has received approval from the U.K.’s Financial Conduct Authority to operate as a crypto services provider, clearing the way for its payments app Sling Money to expand in one of Europe’s most closely watched financial markets. The approval allows the company to offer crypto-enabled payment services to U.K. users under the FCA’s regulatory framework.
The move adds the U.K. to Sling’s growing list of regulated jurisdictions. The company is already registered as a Money Services Business with the U.S. Treasury and, in April, secured authorization under the through the Dutch regulator. That license grants passporting rights across the 30 countries of the .
In the U.K., Sling is currently operating as a closed beta, with wider access expected once the company completes its rollout under FCA oversight. The approval places Avian Labs among a small but growing group of crypto payments firms that have secured regulatory footing in major financial centers.
Investor Takeaway
How Does Sling Money Work?
Sling Money is built around stablecoin-based transfers rather than speculative trading. The app allows users to send and receive funds using Paxos’ dollar-backed USDP stablecoin and Circle’s euro-denominated EURC. Transactions are settled on the Solana blockchain, allowing transfers to clear globally within seconds.
Users can link Sling to their bank accounts, enabling funds to move directly between traditional accounts and the app. Stablecoins can be held within the wallet or transferred out, giving users flexibility between on-chain balances and local currency. This setup is designed to replicate the feel of a modern payments app while using blockchain rails in the background.
Beyond digital transfers, Sling offers instant local currency withdrawals in 80 countries through partnerships with regulated local providers, according to the company. This feature targets one of the largegest friction points in cross-border payments: converting digital value into spendable local money without long delays or high fees.
Why Is Regulation Central to Sling’s Strategy?
Crypto payments apps increasingly resemble mainstream financial infrastructure, particularly when they handle fiat on-ramps, off-ramps, and consumer transfers. That overlap has drawn closer scrutiny from regulators, especially in the U.K. and Europe, where authorities have tightened rules around customer protection, custody, and financial crime controls.
By securing approvals in the U.S., the EU, and now the U.K., Avian Labs is positioning Sling as a regulated alternative to informal stablecoin transfers that operate outside established frameworks. The company’s regulatory footprint also allows it to market itself to users who want quicker cross-border payments without relying on lightly supervised intermediaries.
The timing is notable. Stablecoins are gaining traction as a cheaper and quicker option for international transfers, particularly for small-value, high-frequency payments. As adoption grows, regulators have signaled that firms offering these services must meet standards similar to those applied to traditional payment institutions.
Investor Takeaway
How Does Sling Fit Into the Broader Payments Shift?
Sling’s expansion reflects a wider shift in how money moves across borders. Traditional correspondent banking systems remain sluggish and costly for many use cases, particularly for consumers and small businesses. Stablecoin transfers, settled on public blockchains, from days to seconds and cut out multiple intermediaries.
The challenge has been bridging on-chain value with local banking systems in a compliant way. Sling’s model—stablecoins on Solana paired with regulated fiat withdrawals—aims to solve that difficulty without requiring merchants or recipients to interact directly with crypto assets.
For the U.K. market, FCA approval is likely to be decisive. Many crypto payment apps have struggled to operate under U.K. rules, leading to service withdrawals or restricted offerings. Sling’s entry suggests there is room for compliant players that focus on payments rather than trading or leverage.
What Comes Next?
With regulatory approvals in place across the U.S., Europe, and the U.K., Avian Labs can focus on expanding Sling’s user base beyond closed beta and increasing transaction volume. Wider U.K. availability will test whether consumers adopt stablecoin payments as a practical alternative to bank transfers and card networks.
The longer-term question is whether apps can scale without losing the cost and speed advantages that make stablecoins attractive in the first place. For now, Sling’s progress highlights how regulatory clearance is becoming a key competitive factor as crypto-based payments edge closer to the financial mainstream.
