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NBH JOINS "GLOBAL SANDBOX" FOR FINTECH COMPANIES

 

The National Bank of Hungary (NBH) has joined the Global Financial Innovation Network (GFIN), a “global sandbox” for fintech companies established by regulators on an initiative by the Financial Conduct Authority (FCA) of the UK. GFIN is expected to “act as a network of regulators to collaborate, sharing experience and best practice, and communicate to firms; provide a forum for joint policy work; and provide firms with an environment in which to trial cross-border solutions”, according to the FCA. In addition to the NBH, regulators from Abu Dhabi, Australia, Bahrain, Bermuda, Canada, Dubai, Guernsey, Jersey, Hong Kong, Hungary, Kazakhstan, Lithuania, Singapore, the UK and the US have joined the GFIN. The NBH invited fintech companies to register to try out its own regulatory sandbox in the framework of the GFIN until Feb. 28.