Sandbox Initiative: Central Bank of Brazil

The Central Banking website reported that Lift is unlike other regulatory sandboxes in that it does not waive regulatory rules. Lift also differs in the types of firms it targets. At Lift, the submissions are all at an early stage and the purpose is to help participants reach a prototype stage through co-operating with the regulator and other ecosystem participants. The chief of the central bank’s technical innovation office, says the aim is to boost small innovators. “Given the Brazilian financial industry itself was already providing facilities for the development of more advanced stage start-ups, the central bank decided to create an open innovation ecosystem that would allow the development of innovative financial ideas from up to a minimum viable product,” he says.

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