MAS Enhances FinTech Regulatory Sandbox

The Monetary Authority of Singapore ("MAS") has announced three enhancements to its Fintech Regulatory Sandbox framework to further catalyse financial innovation and Fintech adoption – namely by expanding the eligibility criteria to include early adopters of technology innovation, streamlining application with financial grant, and introducing the Deal Fridays programme, a platform for deal-making opportunities.

The enhancements are part of Sandbox Plus, which takes effect on 1 January 2022. We set out below a summary of the key changes:

Expansion of eligibility criteria to include early adopters of technology innovation

• Currently, a company is eligible for sandbox only if no similar implementations were observed in Singapore. By expanding support beyond first movers to early adopters, Sandbox Plus aims to provide a more conducive environment for new technology innovations to gain broader traction in Singapore, and provide more options to consumers and