The Central Bank of Ghana has called on registered financial institutions and unlicensed fintech startups to apply to join its regulatory sandbox, Bitcoin.com reported on Jan. 29. The bank said in a recent press statement that the process of admitting the first batch of participants will begin on February 13 and end on March 14.
According to the Central Bank of Ghana, the sandbox will support innovation, including "new digital business models that are not currently covered explicitly or implicitly in any regulation." The sandbox will also support innovations that attempt to address the challenges of financial exclusion and "new, immature digital financial services technologies." In addition, the Central Bank of Nigeria also recently stated that its regulatory sandbox is now live. The bank said that interested innovators can submit letters of intent to participate in the regulatory sandbox.
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