Page 40 - 期货和衍生品行业监管动态（2025年10月）

期货和衍生品行业监管动态

Question

To ask 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.

Answer by Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade

and Industry, and Chairman of MAS:

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

Sandbox Type Approvals

Regulatory Sandbox 13

Sandbox Express 6

Sandbox Plus 0

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 3 months. This includes the time taken for applicants

to respond to MAS’ 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.

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