CS Professional · IFSCA - Regulations, Listing and Compliances · Overview of FinTech and Service Providers in IFSC
Zenith Digital, a startup, wants to test a new blockchain-based cross-border payment product in GIFT IFSC on a limited number of live customers before a full launch, under regulatory supervision and with relaxations for a limited period. Which IFSCA facility is designed for this purpose?
The suitable facility is IFSCA's Regulatory Sandbox. It allows fintech innovators to test new products on a limited basis with real customers under regulatory supervision, with certain relaxations and safeguards for a limited period, before deciding on a full launch.
- AThe Regulatory Sandbox framework of IFSCACorrect
- BWinding-up proceedings before the Tribunal
- CA public issue of equity shares on an IFSC exchange
- DThe annual secretarial audit requirement
Explanation
IFSCA's Regulatory Sandbox lets innovators test products in a controlled live environment with specified relaxations and safeguards for a limited time. A public issue is a fund-raising route, winding-up ends a company, and secretarial audit is a compliance check; none permits supervised product testing.
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