A U.K. regulatory approval has added momentum to the steady normalization of stablecoin-based payment services across major financial jurisdictions. Avian Labs, the company behind the crypto payments application Sling Money, has received authorization from the Financial Conduct Authority to operate as a registered crypto services provider. The decision places Sling Money within a growing group of firms aligning blockchain-based payment tools with formal oversight. The approval follows earlier licensing progress in continental Europe and reflects a broader regulatory shift toward treating payment-focused crypto services as infrastructure rather than speculative products. U.K. authorities have increasingly focused on consumer safeguards and operational resilience as crypto platforms move closer to traditional financial use cases. The clearance allows the company to operate domestically under defined compliance conditions, with the application currently accessible through a limited closed beta as regulators continue to evaluate crypto services that directly interact with consumer funds.
Sling Money is built to facilitate peer-to-peer transfers using stablecoins while maintaining direct connections to traditional banking systems. The application enables cross-border fund transfers over the Solana network, allowing near-instant settlement of digital dollar and euro transactions. It supports Paxos-issued USDP and Circle-issued EURC, offering users exposure to fiat-backed tokens rather than price-volatile crypto assets. Funds can be stored within the application or moved directly between linked bank accounts, creating a hybrid model that mirrors conventional payment apps while relying on blockchain settlement. The platform also enables instant local currency withdrawals in 80 countries through partnerships with regulated regional providers. This structure reflects an industry-wide shift toward prioritizing transaction efficiency, liquidity access, and compliance over trading-driven crypto activity.
The U.K. authorization builds on Avian Labs’ expanding regulatory footprint across major markets. The company is already registered as a money services business in the United States and earlier this year secured approval under the European Union’s Markets in Crypto-Assets regime through the Dutch regulator, granting access across the European Economic Area. These approvals highlight how stablecoin-based payment platforms are navigating a more structured global regulatory environment. As cross-border payments remain slow and costly through traditional channels, regulated stablecoin transfers are increasingly viewed as an alternative settlement layer operating continuously with reduced friction. Sling Money’s progress suggests regulators are growing more receptive to crypto services that emphasize payments functionality and regulatory alignment rather than speculative activity.
