Global sandbox admits first fintech firms

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A global sandbox jointly run by several international regulators has accepted its first eight firms into the programme, the UK’s Financial Conduct Authority announced on April 29.

The Global Finance Innovation Network (GFIN) was first proposed in August 2018 and is chaired by the FCA. The cross-border regulatory sandbox comprises a global network of 35 regulators, aiming to enable firms to test innovative fintech products across multiple jurisdictions.

The FCA said 44 applications were

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