Overview
- Monee Financial Technologies, ReStabilise, Revolut, and VVTX were chosen from 20 applicants.
- The cohort covers payment, settlement, and trading models to test issuance and supporting infrastructure.
- Participants will operate in live environments under defined safeguards, oversight requirements, and reporting obligations without immediately facing full rules.
- The FCA will monitor liquidity, reserves, governance, and settlement performance while offering technical guidance to each firm.
- The programme runs through 2026 to shape final policy, with the UK’s broader crypto regime slated for October 2027, according to the FCA’s timeline.