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The UK’s Financial Conduct Authority (FCA) has launched a dedicated stablecoin cohort within its regulatory sandbox, marking a significant step in the country’s evolving approach to crypto and digital asset oversight. In a parallel development, the FCA has admitted regtech firm Eunice into the sandbox to support an industry-led initiative aimed at enhancing transparency in the UK crypto market.
Eunice, a regulatory technology provider specialising in cryptoassets, tokenised assets, and on-chain infrastructure, will work with major industry players—including Coinbase, Crypto.com, and Kraken—to design and test new disclosure technologies. The effort seeks to improve investor protection by ensuring consumers have access to clear, standardised information about cryptoassets before making purchases.
As part of its work, Eunice has convened a working group to develop industry-led disclosure templates that streamline compliance obligations for firms while helping investors make more informed decisions.
The FCA, which plans to finalise its comprehensive crypto regulatory framework next year, is now signalling a more open and innovation-friendly stance toward the sector. Speaking during a recent industry address, David Geale, the FCA’s Executive Director for Payments and Digital Assets, emphasised that the UK remains “open for business” for crypto and stablecoin innovation.
Geale also announced the addition of the stablecoin-specific sandbox cohort, which will provide a supervised environment for testing UK-issued stablecoins and help the regulator refine its policy approach. Applications are open until 18 January.
“It’s a unique chance for innovative firms to test their stablecoin products and services under the UK’s evolving regulatory regime—potentially driving new ideas to benefit both wholesale and retail customers,” Geale said.
The move underscores the FCA’s broader goal of balancing innovation with strong consumer safeguards as the UK positions itself as a globally competitive hub for digital assets.
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