Avian Labs Secures FCA Approval to Expand Crypto Payments Service in the U.K.

Avian Labs, the company behind the crypto payments app Sling Money, has received approval from the U.K.’s Financial Conduct Authority to operate as a crypto services provider. The authorization expands the company’s European footprint following its earlier approval from the Dutch regulator in April.

Stablecoin Payments Gain Ground Under Regulatory Oversight

The FCA approval places Sling Money among a growing group of crypto payments platforms gaining regulatory backing in major jurisdictions. The move comes as stablecoin-based transfers increasingly emerge as an alternative to traditional cross-border payment systems, even as regulators apply closer scrutiny to crypto services that resemble mainstream financial infrastructure.

App Enables Fast Global Transfers Using Stablecoins

Sling Money allows users to send and receive funds using Paxos’ U.S. dollar-backed stablecoin USDP and Circle’s euro-denominated stablecoin EURC. The app can be linked directly to users’ bank accounts, enabling seamless transfers between traditional banking systems and digital wallets, with transactions settling on the Solana blockchain in seconds.

Local Currency Withdrawals Available Across Dozens of Countries

In addition to digital transfers, Sling offers instant local currency withdrawals in 80 countries through partnerships with regulated local providers, according to the company. This feature is designed to bridge onchain payments with real-world spending and cash access.

Service Currently Limited to Closed Beta in the U.K.

Despite the new regulatory approval, Sling Money is currently available only through a closed beta program in the United Kingdom, with broader access expected as the company scales operations.

U.S. and EU Licenses Strengthen Global Expansion Strategy

Avian Labs is already registered as a Money Services Business with the U.S. Treasury and earlier this year secured authorization under the European Union’s Markets in Crypto-Assets framework. The MiCA license, granted by the Dutch regulator, provides access to all 30 countries within the European Economic Area, reinforcing Sling’s position as a regulated crypto payments provider across key global markets.