Data on Applications for MAS' FinTech Regulatory Sandbox Framework

Debated in Parliament on 14 Oct 2025.

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Ms. He Ting Ru inquired about the number of entities that have participated in the Monetary Authority of Singapore's (MAS) regulatory sandboxes since 2016, including details on processing times and outcomes.
The Prime Minister's representative, Gan Kim Yong, provided a breakdown of applicants across three sandbox categories, noting that some were not accepted due to existing regulatory frameworks.
The median processing time for applications to the sandbox is approximately three months, factoring in applicant responses to MAS clarifications.
Out of 19 firms accepted into the sandbox, 15 graduated and obtained relevant licenses, while one firm that graduated has since ceased operations.

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He Ting Ru

Ms He Ting Ru asked the Prime Minister and Minister for Finance (a) since 2016, how many entities have joined one of MAS' regulatory sandboxes, broken down by the three sandbox categories; (b) what is the median processing time for applications; (c) how many entities obtained a relevant licence after graduation; and (d) how many have ceased operations in Singapore at the end of September.

Gan Kim Yong (for the Prime Minister)

The breakdown across each of the three categories is as follows:

Some applicants were not accepted into the Sandbox as existing regulatory frameworks already allowed for their business models to operate. For Sandbox Plus, there were no approvals so far as most applications received were based on technologies and solutions that already exist in Singapore.

The median processing time for Sandbox applications, from submission to outcome notification, is around three months. This includes the time taken for applicants to respond to the Monetary Authority of Singapore's clarifications. Of the 19 firms accepted into the Sandbox, 15 firms have successfully graduated from the Sandbox and obtained relevant licences to operate as fully regulated financial services providers in Singapore. One firm that had graduated from the Sandbox ceased operations.

Summary written by AI (learn more)

Ms. He Ting Ru inquired about the number of entities that have participated in the Monetary Authority of Singapore's (MAS) regulatory sandboxes since 2016, including details on processing times and outcomes.
The Prime Minister's representative, Gan Kim Yong, provided a breakdown of applicants across three sandbox categories, noting that some were not accepted due to existing regulatory frameworks.
The median processing time for applications to the sandbox is approximately three months, factoring in applicant responses to MAS clarifications.
Out of 19 firms accepted into the sandbox, 15 graduated and obtained relevant licenses, while one firm that graduated has since ceased operations.

Questions identified by AI (learn more)

Data on Applications for MAS' FinTech Regulatory Sandbox Framework | PAPERCUTS

Data on Applications for MAS' FinTech Regulatory Sandbox Framework

Debated in Parliament on 14 Oct 2025.

Summary written by AI (learn more)

Ms. He Ting Ru inquired about the number of entities that have participated in the Monetary Authority of Singapore's (MAS) regulatory sandboxes since 2016, including details on processing times and outcomes.
The Prime Minister's representative, Gan Kim Yong, provided a breakdown of applicants across three sandbox categories, noting that some were not accepted due to existing regulatory frameworks.
The median processing time for applications to the sandbox is approximately three months, factoring in applicant responses to MAS clarifications.
Out of 19 firms accepted into the sandbox, 15 graduated and obtained relevant licenses, while one firm that graduated has since ceased operations.

Questions identified by AI (learn more)

Full Transcript

He Ting Ru

Gan Kim Yong (for the Prime Minister)

The breakdown across each of the three categories is as follows:

Summary written by AI (learn more)

Ms. He Ting Ru inquired about the number of entities that have participated in the Monetary Authority of Singapore's (MAS) regulatory sandboxes since 2016, including details on processing times and outcomes.
The Prime Minister's representative, Gan Kim Yong, provided a breakdown of applicants across three sandbox categories, noting that some were not accepted due to existing regulatory frameworks.
The median processing time for applications to the sandbox is approximately three months, factoring in applicant responses to MAS clarifications.
Out of 19 firms accepted into the sandbox, 15 graduated and obtained relevant licenses, while one firm that graduated has since ceased operations.

Questions identified by AI (learn more)

Data on Applications for MAS' FinTech Regulatory Sandbox Framework

Summary

Questions Identified

Full Transcript

He Ting Ru

Gan Kim Yong (for the Prime Minister)

Summary

Questions Identified

Data on Applications for MAS' FinTech Regulatory Sandbox Framework

Summary

Questions Identified

Full Transcript

He Ting Ru

Gan Kim Yong (for the Prime Minister)

Summary

Questions Identified