Solutions Available for Testing

Within FinTech Lab, AFSA provides a controlled environment where participants may develop and pilot financial products without immediately facing the full spectrum of requirements that apply to traditional financial institutions. Below is an outline of the primary products and services available for testing:

• Digital Asset Trading Facility (DATF)

Sandbox participants may launch pilot versions of DATF platforms for trading digital assets. These platforms operate with minimal infrastructure requirements for trading and payment processes. DATFs are permitted to trade digital assets included in the AFSA “Green List”.

• Providing money services

This includes services such as transferring funds, issuing electronic money or stablecoins (linked to fiat currencies or commodities), and managing payment tools like digital wallets. These are means for holding, storing and transferring digital assets, electronic money and other assets or investments.

• Brokerage

Companies may pilot digital asset brokerage services, including placing orders, testing various fee structures, and connecting to exchanges – all under simplified capital requirements.

• Dealership

Dealers in the sandbox may test setting prices for buy/sell operations, managing risk, and using both blockchain and regular systems to complete trades. These models are tested under simplified financial and reporting conditions.

• Crowdfunding

Companies may experiment with crowdfunding models, particularly where new technologies are involved that may contribute to the development of crowdfunding within the AIFC.

For more details please see the link: Crowdfunding Notice

• Security Token Offering

Participants may test ways of issuing security tokens – a digital representation of a security or unit, that is issued, transferred and stored using DLT or other similar technology approved by the AFSA. This includes setting admission criteria, improving KYC/AML processes, using smart contracts for automatic payments, testing fair trade-matching systems, and secure storage methods that keep customer assets separate.

• Other Innovative Models

FinTech Rules allow the sandbox to accommodate any new technology or business model aligned with the AIFC’s principles.

This list is not exhaustive; any innovative concept beyond these categories may also be considered within FinTech-Lab.