Share this article
UK Regulator Adds 9 Blockchain Startups to Fintech 'Sandbox'
Nine blockchain startups have joined a fintech 'sandbox' run by one of the UK's top finance regulators.
By Stan Higgins
Updated May 9, 2023, 3:03 a.m. Published Nov 7, 2016, 2:19 p.m.
The UK Financial Conduct Authority (FCA) has unveiled a number of blockchain and digital currency projects to its regulatory ‘sandbox’ in a bid to promote product testing and consumer safety.
Nine blockchain startups (out of a total of 24) are involved in the fintech sandbox, a development which comes more than two years after the FCA first launched its financial tech-focused initiative ‘Project Innovate’. Within the sandbox, startups test new services and products under the supervision of regulators. The startups involved are Billon, BitX, Epiphyte, Govcoin Limited, Otonomos, Nivaura, SETL, Tradle and Tramonex.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
FCA executive director of strategy and competition Christopher Woolard said in a statement:
“It has been an intense process for both firms and ourselves and we are grateful for their cooperation and hard work in getting us all to this position. We look forward to these businesses bringing new products and services to market whilst we ensure that appropriate consumer protection safeguards are in place.”
The news comes months after the FCA indicated an open stance toward the technology. Woolard argued during a speech in February that blockchain applications need “space” to grow.
Looking ahead, the FCA said it is beginning the process of adding more startups to its fintech sandbox. The agency will begin accepting applications one more later this month, with an eye to open those firms to sandbox testing by next May.
Image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bhutan Debuts TER Gold-Backed Token on Solana
The Himalayan kingdom introduced TER, a Solana-based token backed by physical gold and issued through Gelephu Mindfulness City.
What to know:
- Bhutan introduced TER, a sovereign-supported gold-backed token issued via Gelephu Mindfulness City and custodied by DK Bank, offering a blockchain-based representation of physical gold.
- The token runs on Solana, giving international investors digital portability and on-chain transparency while mimicking the experience of traditional gold purchases.
- TER follows Kyrgyzstan’s USDKG launch, highlighting a growing trend of smaller nations issuing asset-backed digital currencies tied to audited reserves as part of broader economic and technological strategies.
Top Stories
