Abu Dhabi Global Market successfully closed 2nd batch of FinTech RegLab applications

Abu Dhabi, UAE — Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has successfully closed the application for its second cohort of the ADGM FinTech Regulatory Laboratory (RegLab) programme on 31 July 2017.

For its second batch, the ADGM RegLab attracted 22 local and international FinTech startups and innovators, doubling the number of applications as compared to its first cohort.  The applicants’ solutions cover an array of innovation from virtual currency applications and payments solutions, to crowd funding, robo-advisory, InsurTech and RegTech.  With ready solutions for testing, the 22 applicants seek the opportunity to be accepted into ADGM RegLab programme to advance and launch their innovations and become part of the FinTech community in the UAE and the region.

The applicants hail from various markets, including the UAE, Saudi Arabia, Egypt, Lebanon, India, Mauritius, Hong Kong, Singapore, the United Kingdom, Canada and the United States.

Mr Richard Teng, CEO of the Financial Services Regulatory Authority of ADGM said, “We are very encouraged by the strong interest and pipeline of advanced solutions that the ADGM RegLab has attracted from the local, regional and international community.  We have maintained an inclusive approach but robust assessment of FinTech solutions that have the most potential to contribute to the efficiency, growth and well-being of our financial sector and marketplace.

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