Shearman & Sterling’s FinTech Foundry today has launched an interactive map of the 40 FinTech regulatory sandboxes located throughout the world.
As the FinTech landscape continues to grow and evolve at a rapid pace, regulatory sandboxes provide a controlled environment for eligible FinTech firms to conduct live testing under regulatory supervision to secure authorization and launch their new products or services. The scope and guidelines of regulatory sandboxes vary depending on the objectives of the sandbox, eligibility of the applicant, how the products or services are tested, the timing for the test and the regulator’s actions following it. This interactive map will help FinTech firms easily access key information about the sandboxes globally, including covered products or services and key regulators as the space continues to evolve.
“We’ve seen regulatory sandboxes grow at a rapid pace in the last two years as regulators and innovators have realized the benefits of a focused approach to regulation that both fosters growth and bolsters confidence in the marketplace,” says Donna Parisi, Global Head of Financial Services & FinTech. “Our map is a great resource for FinTech firms to identify the relevant sandboxes that can help bring their products or services to the market in a more flexible regulatory environment.”
Today, over 30 countries and jurisdictions have launched sandbox initiatives, with several others set to follow suit. The firm’s map highlights all of the sandboxes that exist throughout the world, and includes helpful information on their launch date, governing commission, law and regulations, the environment and eligible products.
Our FinTech Foundry is a program dedicated to supporting the FinTech-related activities of our clients and the wider global FinTech ecosystem consisting of financial institutions, FinTech start-ups, accelerators and incubators, venture capital and private equity investors, and policymakers. Through one of its pillars, FinTech Advisory, we have a team of attorneys committed to supporting and providing legal mentoring to FinTech startups shaping the future of financial services.
To learn more or if you would like to talk to a member of our team, please contact ShearmanFinTech@shearman.com.