Sandbox Express

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will not be available for remittance business, as the Money-Changing and Remittance Businesses Act ("MCRBA") will be repealed upon the commencement of the Payment Services Act 2019 ("PS Act") on 28 January 2020.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.

Key Resources

Sandbox Express Guidelines (615.4 KB)
Annex A Sandbox Constructs (381.6 KB)
Annex B Application Form (138 KB)
Annex C Progress Reporting Form (55.3 KB)
Response to Feedback Received (797.7 KB)

List of Sandbox Express Experiments

LabyrinthX Technologies Pte. Ltd. - exited Sandbox Express on 31 Jul 2023

Sandbox Period: 1 Aug 2022 - 31 Jul 2023

Category: Recognised Market Operator (RMO)

Key Business Activities: Trading platform for securities and units in collective investment schemes only

Website: https://www.agx.co/

Address: 151 Chin Swee Road, #07-12 Manhattan House, Singapore 169876

Telephone: +65 6980 7783

Key Risk Disclosure:

  1. LabyrinthX Technologies Pte. Ltd. has completed its experiment and exited Sandbox Express on 31 Jul 2023.
  2. With effect from 1 Aug 2023, LabyrinthX Technologies Pte. Ltd. is a recognised market operator under section 9(1) of the Securities and Futures Act.
  3. For more information, please refer to the Financial Institutions Directory.