Understanding and applying to the sandbox

 

MAS is encouraging more FinTech experimentation so that promising innovations can be tested in the market and have a chance for wider adoption, in Singapore and abroad. The regulatory sandbox will enable FIs as well as FinTech players to experiment with innovative financial products or services in the production environment but within a well-defined space and duration. It shall also include appropriate safeguards to contain the consequences of failure and maintain the overall safety and soundness of the financial system.

Depending on the experiment, MAS will provide the appropriate regulatory support by relaxing specific legal and regulatory requirements prescribed by MAS, which the sandbox entity will otherwise be subject to, for the duration of the sandbox.

Upon successful experimentation and on exiting the sandbox, the sandbox entity must fully comply with the relevant legal and regulatory requirements.

The sandbox guidelines set out the objective and principles of the sandbox, and provide guidance to the applicant on the application process and the information to be furnished to MAS.

If you have any question regarding the sandbox, please approach your MAS Review Officer, or email fintech_sandbox@mas.gov.sg.

Last Modified on 08/08/2017