Citizens will be able to access government services in Busan city via the app, which is used to verify their identity.
South Korea has revealed that its fintech sandbox has been a massive success, with $111 million worth of investment attracted and the creation of 380 jobs.
The Israeli Capital Market Authority is seeking to make changes to its licensing regime in order to encourage competition and grow the country’s fintech industry.
The Brazilian sandbox, supported by several agencies, will allow them to study new technologies while encouraging innovation.
Lobby groups are urging the Reserve Bank of India to reconsider its ban on cryptocurrency-related products from joining the proposed regulatory sandbox.
A total of 105 companies had applied to take part in the program since its launch in January 2018, according to South Korea’s Financial Services Commission.
The Financial Conduct Authority has included Diro Labs, Fintech Delivery Panel Partners and ecommerce payment firm Nuggets within the cohort 5 group of companies.
Russia will establish four regulatory sandboxes for companies to try out new blockchain technology, amongst others, in before real rules kick in.
Austria’s minister of finance, Hartwig Loeger, wants a sandbox for fintech business models to be tested in.
Rain, a Bahrain based cryptocurrency exchange, has graduated to the Central Bank of Bahrain’s Regulatory Sandbox.
The UK’s Financial Conduct Authority (FCA) has accepted 29 companies into cohort 4 of its regulatory sandbox, designed to create a safe space for innovation in crypto assets.