Avian Labs Gains U.K. FCA Approval for Crypto Payment Services

The developer of Sling Money received FCA authorization to operate in the U.K., offering Solana-based fund transfers with instant local currency withdrawals in 80 countries.

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Summary

Avian Labs, maker of the Solana-based Sling Money payments app, announced FCA approval to operate as a crypto service provider in the U.K. The platform allows global fund transfers with instant local currency withdrawals in 80 countries and is currently in closed testing domestically. Sling leverages stablecoins to provide fast transactions, complementing Avian Labs’ existing Dutch MiCA license and U.S. Money Services Business registration.

Terms & Concepts
  • Financial Conduct Authority (FCA): The U.K. financial regulator overseeing markets, including cryptocurrency service providers.
  • stablecoin: A cryptocurrency pegged to a stable asset, such as a fiat currency, to reduce volatility.
  • Solana blockchain: A high-performance decentralized network designed for fast transaction processing and scalability.