Egypt's Financial Regulatory Authority has granted preliminary approval for two projects to join its regulatory sandbox for non-bank financial technology, bringing the number of projects approved in principle during the sandbox’s first year to nine. The projects cover the tokenization of money market fund units and digital identity verification for non-Egyptians. Tarmiz Information Technology, working with Granite Holding for Financial Investments, will test a platform that digitally represents assets, particularly investment fund units, on a controlled electronic register. The platform is intended to improve the efficiency and transparency of issuance, transfer, redemption and asset lifecycle management. VLens, in collaboration with EFG Holding, will test mobile verification of non-Egyptians’ identities by reading NFC-enabled electronic passports in line with international standards, supporting digital access to insurance, investment and other non-bank financial services. The sandbox received more than 50 projects in its first year, with two progressing to live testing. The authority will review the sandbox’s first-year results and discuss the future of financial technology at its annual summit on Sept. 7, 2026.
2026-08-29Egypt Financial Regulatory Authority
Egypt's Financial Regulatory Authority grants preliminary sandbox approval to two tokenization and digital identity projects
Egypt's Financial Regulatory Authority has granted preliminary sandbox approval to two projects covering tokenized money market fund units and NFC-based passport verification for non-Egyptians. The approvals bring the first-year total to nine projects, while two of more than 50 submissions have entered live testing.