Sling Money Gets UK FCA Green Light for Crypto Services

Sling Money has received UK FCA approval to offer crypto services, enabling stablecoin transfers and instant withdrawals in 80 countries, expanding its regulated presence in Europe.

Avian Labs, developer of the Sling Money app, has received approval from the UK's Financial Conduct Authority to operate as a crypto services provider. This license allows Sling Money to offer cryptoasset services in the UK, expanding its regulatory presence in Europe after previous approvals in the Netherlands and the US. The app enables users to transfer funds using stablecoins such as USDP and EURC over the Solana blockchain, with instant local currency withdrawals available in 80 countries. Currently in closed beta in the UK, Sling Money links to users' bank accounts for direct fund transfers and aims to provide fast, secure, and regulated cross-border payments. The FCA approval marks a significant step for the company as stablecoin-based payments gain traction as an alternative to traditional methods.