It’s official, MoneyMatch is now the first to graduate Bank Negara Malaysia’s regulatory sandbox. This was announced during a session titled “Thinking Inside the Sandbox” at MyFintech Week 2019 jointly organised by Bank Negara Malaysia and MDEC.
This announcement follows the news of MoneyMatch’s approval in principle for a class-b remittance license just last April. Concurrent with the graduation, MoneyMatch also received full approval from the regulator to conduct their remittance business
Speaking at the event, Adrian shared that MoneyMatch entered the sandbox with the mentality of a regulated entity and hired an experienced compliance team. He added that it’s just good practice for startups to have.
Source from Fintech News