For UK founders weighing how to reward long serving staff without forcing a sale or an IPO, Moneybox has just supplied a fresh data point, and a useful one, because it is the first British fintech to put real numbers behind the answer.

For years the frustration voiced by British founders and the people who build alongside them has been the same. You can grow a company worth billions in London and still find that nobody who helped create that value can realise any of it, short of selling to an overseas buyer or waiting out an IPO t

On 30 June, something quietly ends for anyone who owns shares in a private British company. Until that date, trading those shares on the London Stock Exchange's Private Securities Market, the venue built under the UK's new PISCES regime, costs nothing in transaction fees. From 1 July, the first real

The model widened who could invest. The next one has to fix what it left unsolved: liquidity, selection, and the cost of staying in.

Real world asset tokenisation has matured from white paper to working infrastructure. The question for UK founders and operators is now less whether it works, and more what the stack actually looks like end to end.

When the FCA launched the PISCES sandbox framework in June 2025, most commentary treated it as an interesting experiment. Less than a year later, the UK has four approved private company trading platforms, the first trades have been completed, and one operator has launched without charging fees or r

Existing shareholders - early employees, angels, seed funds - can transact in controlled, periodic windows without the company losing its private status or triggering the ongoing reporting obligations of an MTF or public exchange.

For UK founders sitting on illiquid equity, the landscape for secondary share trading just quietly got bigger. On 22 April 2026, Asset Match Limited became the third operator to receive FCA approval to run a trading venue under the PISCES framework - the Private Intermittent Securities and Capital Exchange System - Britain's regulated sandbox for trading shares in private companies. This follows approvals for the London Stock Exchange's Private Securities Market (PSM) and

This month, something changed. Republic Europe — formerly known as Seedrs, one of the UK's most established equity crowdfunding platforms, has partnered with the London Stock Exchange to offer access to PISCES: the Private Intermittent Securities and Capital Exchange System. It is a clunky acronym for something genuinely significant.