A global network to help FinTech startups

A network of many large nations supporting FinTech was created to help startups in their global businesses. Caroline Binham on the Financial Times writes the UK is the first country to create a “global sandbox” regulated by a Global Financial Innovation Network.
This international regulator will issue temporary normative authorizations, which will allow companies to trial new products in multiple countries at a time reducing the time and cost of getting products to market.
In addition to the UK, eleven countries are involved, including the US, Singapore and Hong Kong. For the future, the goal of the network is a full sharing of digital policy on Blockchain, Artificial Intelligence and Big Data.