MAS proposes regulatory sandbox for fintech experiments

Singapore

THE Monetary Authority of Singapore (MAS) set out its approach towards fintech experiment on Monday, as it proposed a regulatory "sandbox" for trials by both start-ups and large financial companies in this area of innovation.

The strategy closely follows that of the UK, where the Financial Conduct Authority (FCA) in May launched a "sandbox" that allows businesses, big and small, to try out a new fintech service at a limited scale.