Solutions Available for Testing

Within FinTech Lab, AFSA provides a controlled environment where participants can 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 solution categories available for testing:

• Digital Asset Trading Facility (DATF)

Sandbox participants can launch pilot versions of platforms (DATFs) where digital assets are traded. They benefit from minimal infrastructure requirements to trading and payment processes. DATFs are allowed to trade tokens included in the AFSA “Green List” on its platform.

• 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 can pilot digital asset brokerage services. Including how clients place orders, experimenting with different fee structures, and connecting them to exchanges – all under simplified capital requirements.

• Dealership

Dealers in the sandbox can 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 can experiment with crowdfunding models, particularly where new technologies are involved that could contribute to the development of crowdfunding within the AIFC.

For more details please see the link: Crowdfunding Notice

• Security Token Offering

Participants can test ways of issuing security tokens. 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 AIFC’s principles.

This list is not exhaustive, any innovative concept outside these categories may still be considered within FinTech-Lab.