The Securities and Exchange Commission (SEC) has approved the testing of a financial technology firm’s products and services at the commission’s regulatory sandbox.
Philippine-based Blockshoals Technologies, Inc. is the fourth firm that will utilize StratBox, a facility that tests fintech’s products and services in a controlled environment for a period of 24 months, the commission said in a statement Tuesday.
SEC said its commission en banc approved Blockshoals’ sandbox testing on Nov. 12.
The testing is in line with the commission’s Memorandum Circular No. 9, Series of 2024, which provides tech-focused firms with the opportunity to test their products and services at the SEC StratBox to check, in a controlled setting, market opportunities.
SEC said two of the previous firms that utilized the sandbox are offering US equities, while the other one is offering tokenized real estate.
“The SEC continues to review other applications, and remains open to receiving more proposals for its regulatory sandbox, as part of the Commission’s commitment to advancing innovations in the capital market,” it added. (With a report from Joann Villanueva/PNA)
