Shanghai Fintech Sandbox Announces New Batch of Innovation Projects

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Shanghai’s fintech regulatory sandbox has unveiled a new batch of three innovation projects that will commence operation under the initiative.

The Shanghai Fintech Innovation Regulatory Tool Work Team (上海市金融科技创新监管工具实施工作组) announced the three projects on 11 March, which include:

  1. A blockchain-based digital trade cross-border payments services project, under development by the Shanghai branch of the Industrial and Commercial Bank of China (ICBC) and Shanghai Cross-border E-Commerce Public Service Co., Ltd.
  2. Enterprise mobile payments services based on payments markers, under development by Bank of Shanghai.
  3. Telecommunications network fraud risk early warning services based on privacy computing, under development by Shanghai Huarui Bank, China Mobile Information Technology Co,. Ltd. and Shanghai Fushu Technology Co., Ltd.