Sandbox Express provides firms with a faster option to test certain innovative financial products and services in the market. Eligible applicants can begin market testing in the pre-defined environment of Sandbox Express within 21 days of applying to MAS.

For a start, Sandbox Express will be available specifically for:

(a) carrying on business as an insurance broker; and

(b) establishing or operating an organised market.

Note: With effect from 7 January 2020, Sandbox Express will not be available for remittance business, as the Money-Changing and Remittance Businesses Act ("MCRBA") will be repealed upon the commencement of the Payment Services Act 2019 ("PS Act") on 28 January 2020. For more information, please refer to paragraph 2.5 and 6.3 of the Response to Feedback Received on Sandbox Express issued on 7 August 2019.