Named the “Controlled Tests Environment for Financial and Payment Innovations”, the sandbox promotes new business models and competition in Brazil’s fintech space. Potential entrants must employ “technological innovation” or promote an alternative use of existing technology.
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Brazil prepares launch of new regulatory sandbox
Brazil’s new open banking network will roll out in four stages between November 2020 and October 2021. The central bank also made headline in summer, suspending all WhatsApp Pay services to “preserve an adequate competitive environment.”
