Today the Monetary Authority of Singapore (MAS)
announced a new fast track Sandbox Express. It enables certain types of fintechs to participate in the sandbox within 21 days of applying to MAS.
“For innovation to take root, it is important for ideas to be tested quickly and in a safe environment,” said Mr Sopnendu Mohanty, Chief FinTech Officer MAS. “Sandbox Express aims to achieve this through appropriate disclosures and pre-defined rules.”.”
The regulator emphasized that the new sandbox version is only open to low risk and well understood experiments. Hence it is limited to insurance brokers, recognized market operators and remittance businesses. But it may expand the scope in future.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
