UK FCA to introduce permanent digital sandbox for technology startups
The UK’s Financial Conduct Authority (FCA) will introduce a Digital Sandbox to support technology firms during their early product development stages. The initiative will be permanent ly available from August 1 and will support emerging technologies such as blockchain in the financial sector. FCA introduces permanent digital sandbox The Digital Sandbox, serving as a testing ground, provides crucial support to firms in their initial product development stages, facilitating experimentation through proof of concepts. Besides innovators, data providers are now invited to seek listing on the permanent sandbox , granting them access to valuable traffic and insights on data usage. Until now, the platform had only been accessible temporarily for participants engaged in pilots and TechSprints. This announcement mirrors the release of the Sandbox in Europe. In a July 3 release, the announcement was made that after receiving close to 90 applications in April, the inaugural set of b...