Sling Money, the crypto payments app developed by Avian Labs, has won regulatory approval from the U.K. Financial Conduct Authority to operate as a crypto services provider, extending its European reach after securing a Dutch MiCA license earlier this year. The service enables users to transfer funds over the Solana blockchain and offers instant local-currency withdrawals in 80 countries through partnerships with regulated providers. The app uses Paxos’ dollar stablecoin USDP and Circle Internet’s euro stablecoin EURC, and can be linked to users’ bank accounts to enable direct transfers in addition to wallet storage. Transfers occur on Solana, allowing users to send and receive digital dollars and euros globally in seconds.
Sling Money is currently available only as a closed beta in the U.K., while Avian Labs is already regulated as a Money Services Business with the U.S. Treasury. In April, the Dutch regulator granted Sling Money a MiCA license, providing access to the 30 countries in the European Economic Area.
Leave a Reply