Solana News Today: Avian Labs Gains U.K. FCA License to Expand Crypto Payments with Solana-Based Sling Money

Avian Labs, the developer of crypto payments app Sling Money, has secured approval from the U.K.'s Financial Conduct Authority (FCA) to offer crypto services, marking a significant expansion for the firm. This regulatory backing allows the app to operate as a crypto services provider in the U.K., where it is currently available through a closed beta. The app uses the Solana blockchain to enable fast, cross-border transactions and supports stablecoins like USDP and EURC.

The approval places Sling Money among a growing number of crypto firms gaining regulatory traction in major markets, as stablecoin-based transfers increasingly replace traditional cross-border payment methods. The move highlights the U.K.'s growing openness to crypto innovation amid global competition to shape the future of digital finance.

With a regulatory license in the U.K., Avian Labs joins its existing authorizations in the Netherlands and the U.S., positioning itself as a key player in the evolving crypto payments sector. The firm's expansion comes as stablecoin adoption accelerates, driven by efficiency and cost advantages over conventional financial systems.

Regulatory Momentum for Stablecoin Firms

The U.K. has become a key regulatory hub for crypto services, and Sling Money's approval reflects a broader trend of financial authorities embracing stablecoin infrastructure. The FCA's decision follows similar moves in the Netherlands and the U.S., where Avian Labs has already secured regulatory licenses. This cross-border compliance strategy enables the firm to scale rapidly while adhering to global financial standards.

The approval also aligns with the European Union's Markets in Crypto-Assets (MiCA) regulatory framework, which aims to provide a consistent legal environment for crypto services across member states. Avian Labs' Dutch license under MiCA grants it access to the European Economic Area, further supporting its strategic expansion.

Sling Money's use of Solana and stablecoins like USDP and EURC positions it to compete with traditional payment providers by offering near-instant transfers and lower fees. The platform's integration with local banking infrastructure and partnerships with regulated providers in 80 countries also enhance its appeal to users seeking a seamless, cross-border experience.

A Growing Stablecoin Ecosystem

Stablecoins are increasingly being adopted as an alternative to traditional financial tools, particularly for cross-border transactions. The technology behind stablecoins allows for fast, low-cost transfers, making them a compelling choice for consumers and businesses alike. Recent developments, such as YouTube's shift to stablecoin-based payouts for content creators and Visa's use of USD Coin (USDC) for settlements, underscore this trend.

The U.K.'s regulatory support for Sling Money signals confidence in the potential of stablecoins to transform global payment systems. With global stablecoin transaction volume expected to grow significantly in the coming years, regulators are taking steps to ensure compliance and transparency while fostering innovation.

Investors are also paying attention to the sector's potential. Amplify ETFs recently launched the Amplify Stablecoin Technology ETF (STBQ) and the Amplify Tokenization Technology ETF (TKNQ), offering targeted exposure to companies and crypto assets driving stablecoin and tokenization advancements. These funds reflect growing institutional interest in the space as stablecoin infrastructure matures.

Risks to the Outlook

Despite the regulatory momentum, the crypto sector remains subject to scrutiny, particularly as stablecoin-based services begin to resemble traditional financial infrastructure. Regulators in the U.K. and elsewhere are carefully monitoring the risks associated with digital assets, including liquidity and systemic stability concerns. This increased oversight could slow down expansion in the short term but may help establish a more robust framework for long-term growth.

For now, Sling Money remains in closed beta in the U.K., and its broader commercial rollout will depend on user adoption and regulatory feedback. Avian Labs will need to demonstrate continued compliance and operational resilience as it scales its services across multiple jurisdictions.