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Singapore regulator to introduce testing mechanism for fintech services

The MonetaryAuthority of Singapore is planning to introduce a "regulatorysandbox" approach to tackle fintech space in the city-state.

Managing Director Ravi Menon said April 2 that the sandbox mechanismwill give financial companies "more confidence to experiment and launchtheir innovative products or services within controlled boundaries."Guidelines on how the sandbox will work will be issued for public consultation,Menon said.