Bank of Jamaica launches fintech sandbox
Central bank hopes to “reduce the time, and potentially the costs” of fintech market entrance
The Bank of Jamaica is establishing a fintech regulatory sandbox to foster greater partnerships with fintech firms, in conjunction with mainstream banks.
Effective on March 16, the Fintech Regulatory Sandbox Guidelines will enable fintech firms to apply to test products, services and business models in a live market environment.
A sandbox enables early-stage firms to test their business offering in a controlled – and typically partly deregulated – setting. It also allows regulators to observe
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