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CS Professional · IFSCA - Regulations, Listing and Compliances · Overview of FinTech and Service Providers in IFSC

Ledgerly Technologies has been admitted to the IFSCA regulatory sandbox for its tokenised invoice-discounting platform. At the end of the testing period, its tests meet the stated objectives. What is the most appropriate next step under the sandbox approach?

Ledgerly should apply to IFSCA for the relevant registration or authorisation to continue on a regular basis. The sandbox is only a time-bound testing window, so it neither grants a permanent licence automatically nor allows indefinite testing, and successful testing does not forbid applying for authorisation.

  1. AIt may apply to IFSCA for the appropriate registration or authorisation to operate on a regular basisCorrect
  2. BIt automatically becomes a recognised stock exchange
  3. CIt may continue testing indefinitely without any further application
  4. DIt must shut down permanently because sandbox testing cannot lead to a licence

Explanation

The sandbox is a time-bound testing arrangement, not a permanent licence. An entity whose tests succeed can seek the relevant authorisation or registration from IFSCA to operate regularly. Indefinite testing is wrong because the period is limited, and no automatic status is conferred.

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