The Monetary Authority of Singapore has unveiled a cross-border regulatory sandbox for digital asset firms, developed in partnership with financial regulators in Japan, Switzerland, and the United Arab Emirates.
The sandbox, named "Global FinTech Bridge," enables licensed digital asset companies to test products and services across multiple jurisdictions simultaneously, under a coordinated supervisory framework that eliminates the need for separate regulatory approvals in each market.
"Digital assets are inherently cross-border, and regulation must evolve accordingly," said the MAS Managing Director. "This sandbox creates a controlled environment where innovation can flourish while maintaining the highest standards of investor protection and financial stability."
The initial cohort will include 25 firms selected from over 200 applications, focusing on tokenised securities, cross-border stablecoin payments, and decentralised finance lending protocols.
The initiative represents the most ambitious multi-jurisdictional fintech regulatory cooperation effort to date and could serve as a model for broader international coordination.