The U.K. Financial Conduct Authority (FCA) has unveiled the 29 successful companies to apply to the fourth cohort of the regulator’s sandbox, whereof 40 percent are using distributed ledger technologies (DLT), according to an announcement published July 3.
The regulatory sandbox is an initiative designed to help organizations test various products and services in a live market environment with appropriate consumer protection but without restrictive regulation. The sandbox is a part of the “Innovate” initiative launched in 2014 intended to promote competition. To date, Innovate has reportedly received more than 1,200 applications and supported over 500 firms.