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The Hong Kong Monetary Authority (HKMA) is to set up a fintech innovation hub and supervisory “sandbox” for financial technology innovation in the banking sector, according to a statement issued by the watchdog today.
The news comes shortly after the Monetary Authority of Singapore(MAS) announced a similar proposal for a regulatory sandbox for fintech startups aimed at making it easier for financial institutions and other companies to experiment with fintech offerings, as reported by Finance Magnates in June.
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The watchdog announced the ... (read more)