UAE - ADGM admits 4th Reglab cohort
Monday, 08 26 2019, Category: Technology, Country: U.A.E
Abu Dhabi Global Market (ADGM), the award-winning International Financial Centre in Abu Dhabi, is pleased to welcome four new FinTech start-ups in its fourth Regulatory Laboratory (RegLab) cohort. These four local and international firms, DAPI (United Arab Emirates), PointCheckout (United Arab Emirates), Jibrel Network (Switzerland) and Ekofolio (Luxemburg), were selected from a pool of 14 applications with market-ready solutions focusing on areas including sustainable finance and the API economy to be tested in Abu Dhabi and wider UAE market.
ADGM is also excited to announce that two of its RegLab firms, NOW Money and Pyypl, have successfully graduated from the RegLab programme and deployed new solutions into the marketplace. Both NOW Money and Pyypl are UAE-founded and based start-ups from the early cohort of ADGM RegLab initiative.
Mr Richard Teng, CEO, Financial Services Regulatory Authority of ADGM, said: "We warmly welcome the latest batch of FinTech innovators into the RegLab. We are also happy to see home-grown innovators such as NOW Money and Pyypl graduating from RegLab and becoming successful locally and regionally. They offer innovative solutions to real world challenges. ADGM looks forward to supporting their growth and wishes them every success on their journey ahead. The RegLab has been an instrumental platform not just for FinTech start-ups to innovate, but also for us as regulators to adapt, re-invent and update our regulatory requirements. For instance, the insights gained from the RegLab has enabled us to launch new regulatory frameworks in relation digital assets, digital banking and robo-advisory. As a smart digital IFC, ADGM will continue to support innovative and new business models that meets the need of a fast evolving digital landscape and tap opportunities offered by the future economy."