Sandbox

Sberbank and Russia’s National Settlement Depository (NSD) have partnered to conduct a test on initial coin offerings (ICO) within the regulatory sandbox. As a result, they expressed an intention to find a way for token sales implementation and other services related to the fintech.

The notion of a financial or tech sandbox, highly popularized over the last 10 years, is gaining increasing momentum across the globe, especially as regulators try to place the digital currency and Blockchain technology genies under thorough observation. For some regulators in great jurisdictions like the UK's Financial Conduct Authority (FCA) are majorly originating from positions of strength and as such, may facilitate innovations which "fit the mould" or slightly enhance status quo.

The UAE government has taken a significant step in understanding the general principles on which the fintech is based. Last Sunday, the UAE Securities and Commodities Authority (SCA) officially agreed to regulate ICOs and recognize tokens as securities for the welfare of the nation.

Sberbank CIB in a partnership with National Settlement Depository (NSD) has announced their intention to set up an Initial Coin Offering (ICO) in the Bank of Russia’s regulatory sandbox. The issuer of the digital currency will be Level One, that operates the largest lecture hall on Moscow’s financial market.

Virtual Limited Liability Companies (VLLCs) working on blockchain technology will be launched in Lithuania. The country considers the possibility of allowing entities from different parts of the world to register and operate their fintech companies there. A draft has been already processed by the Lithuanian Centre of Registers.

Humaniq opens access to its unique API to partners as part of the plan for further development of provided services and diversification within the Humaniq ecosystem.