Evaluation of applications for participation in the second phase of the Regulatory Sandbox continues

04-04-2025

4 April 2025, Baku: Processes continue according to the stages set by the Central Bank within the framework of organization and management of activities under the Regulatory Sandbox.

Thus, as a result of the second acceptance period, a total of 14 applications received for participation in the Regulatory Sandbox will be evaluated. At this stage, the applications will be assessed for compliance with the requirements and a final decision will be made on their acceptance for testing in the Regulatory Sandbox.

It should be noted that the applications received relate to the testing of innovative products in the areas of virtual assets, payment services and other areas of the insurance and financial markets.

The Regulatory Sandbox is a set of rules containing measures for testing innovative financial products on the financial markets on a limited scale and under the supervision of the Central Bank. The participant of this regime will conduct the testing of the innovative financial product on the basis of an agreement to be concluded with the Central Bank.  

The goal is to introduce innovative products that meet the criteria of the Regulatory Sandbox and have been successfully tested in the Sandbox to the financial markets and to create a regulatory framework in this area.

For more information about the Regulatory Sandbox and the latest news, please follow this link: sandbox.cbar.az