Pharos can still tell you how this asset is supposed to work, when it expects to launch, and what sources to watch. Live market, peg, liquidity, and safety surfaces activate only after the first post-launch data sync.
Selected as one of four firms for FCA Regulatory Sandbox stablecoin cohort (Feb 25); testing began Q1 2026; full UK banking licence granted Mar 11, but GBP stablecoin would be issued from Revolut Ltd (e-money entity), not Revolut Bank UK, per BoE proposed rule on subsidiary issuance; Head of UK Policy Rory Tanner outlined proposition to House of Lords (Mar 25), flagging UK→India remittance corridor as priority use case; ticker not publicly confirmed; the Bank of England softened its stance in May 2026 — dropping the £20k individual holding cap in favour of aggregate issuer caps (revised draft rules due June 2026) and signalling banks may issue branded coins via ring-fenced subsidiaries — though the 40% unremunerated-reserve requirement remains under review; UK full authorisation regime not active until October 2027
Revolut GBP Stablecoin (RGBP) Pre-launch Stablecoin Tracker
RGBP
At a Glance
- Backing
- Real-World Asset Backed
- Governance
- Centralized (CeFi)
- Peg Currency
- British Pound
- Jurisdiction
- United Kingdom (FCA)
Launch Timeline
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Bank of England drops £20k individual holding cap for aggregate issuer caps
At CityWeek 2026 the BoE confirms it is abandoning the proposed £20,000 per-person holding limit in favour of aggregate issuance caps; revised draft rules expected June 2026.
SourceBank of England signals stablecoin proposals were 'excessively conservative'
Deputy Governor Breeden indicates the BoE is ready to soften its proposed stablecoin rules following industry pushback, ahead of revised draft rules — easing the 'branded stablecoin' ban and holding-cap risks flagged for GBP issuers like Revolut.
SourceRevolut UK Head of Policy testifies to House of Lords on GBP stablecoin strategy
Rory Tanner tells peers the UK is 'already behind' the US and EU; outlines UK→India remittance corridor (seventh-largest globally) as priority B2B use case; flags Bank of England's proposed 'branded stablecoin' ban as a commercial blocker.
SourceRevolut granted full UK banking licence by PRA
PRA and FCA lift mobilisation restrictions after a 20-month phase; banking services move to Revolut Bank UK Ltd, but any GBP stablecoin would be issued from Revolut Ltd (the e-money entity) per BoE's proposed rule prohibiting the same group from issuing stablecoins across affiliated subsidiaries.
SourceFCA selects Revolut for UK Regulatory Sandbox stablecoin cohort
Revolut chosen alongside Monee Financial Technologies, ReStabilise, and VVTX from a pool of 20 applicants to test stablecoin issuance under proposed UK rules; testing began Q1 2026.
Source13 Million Users, One Brand Ban Away
Revolut's pre-launch UK GBP stablecoin is expected to issue from the e-money subsidiary, not the bank, and remains sandbox-only until October 2027 — with proposed BoE rules that legal analysts call structurally unviable. Revolut got its full UK banking licence on March 11 after a 20-month mobilisation — and then confirmed its proposed GBP stablecoin would not be issued from the new banking entity. Bank of England rules prohibit a UK bank and its affiliated group from issuing stablecoins across different subsidiaries, so issuance falls back to Revolut Ltd, the e-money entity. That structural wrinkle is the smaller of Revolut's UK regulatory headaches. At the House of Lords on March 25, Head of UK Policy Rory Tanner told peers the UK is 'already behind' the US and EU — and flagged the BoE's proposed ban on 'branded' stablecoins as a commercial blocker (the issuer couldn't put its own name on the token). Priority use case per Tanner: the UK→India remittance corridor, the seventh-largest in the world, not retail payments. The FCA sandbox cohort Revolut joined on Feb 25 is testing phase only; the full UK authorisation regime doesn't activate until October 2027, and the BoE's proposed 40% unremunerated-reserve requirement plus £20,000 individual-holder cap describe a commercial model that UK legal analysts call structurally unviable. Revolut's real asset isn't the token — it's 13 million UK users who already open the app daily, with the bank-style {{term:custody}}custody{{/term}} and {{term:redemption}}redemption{{/term}} stack the issuer plans to bolt on top. Whether that distribution survives the BoE rulebook is the actual question.
Updated
Discover
Revolut among firms picked by UK FCA to test stablecoin sandbox
FCA selects Revolut, Monee, ReStabilise and VVTX from 20 applicants for a regulatory sandbox cohort testing GBP-denominated stablecoin products.
Revolut UK Legal Head calls for GBP stablecoin
Rory Tanner tells House of Lords the UK is 'already behind' the US and EU on GBP stablecoins; highlights UK→India remittance corridor (seventh-largest globally) as priority B2B use case.
Links
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