Manila: 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.
According to Philippines News Agency, the SEC’s commission en banc approved Blockshoals’ sandbox testing on November 12. The testing is in line with the commission’s Memorandum Circular No. 9, Series of 2024, which provides tech-focused firms the opportunity to test their products and services at the SEC StratBox to check, in a controlled setting, market opportunities.
The SEC stated that two of the previous firms that utilized the sandbox are offering US equities, while the other one is offering tokenized real estate. The commission emphasized its ongoing efforts to review other applications and invited more proposals for its regulatory sandbox, underscoring its commitment to advancing innovations in the capital market.
