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Hong Kong regulator to launch fintech 'sandbox'

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Published Tue, Sep 6, 2016 · 02:55 AM

    [HONG KONG] Hong Kong's top banking regulator said on Tuesday it would establish a regulatory regime known as a "sandbox" for financial technology start-ups, in a bid to boost Hong Kong's status as a burgeoning fintech hub.

    The new initiative will help quicken the pace of fintech development, Hong Kong Monetary Authority (HKMA) chief executive Norman Chan told a conference.

    "Sandboxes" typically afford fintech firms special regulatory waivers for a limited period of time.

    REUTERS

    Hong KongFintech

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