The New Zealand Financial Markets Authority (FMA) has named six fintech firms that will test new products, services or business models in its pilot regulatory sandbox, following 24 applications and a review process. Selected participants include ECDD Holdings Limited, which plans to launch a yield-bearing NZD-backed stablecoin funded by interest on client money held on trust, and Emerge Group Limited, a digital banking alternative aiming to move customer funds from a partner-bank trust arrangement into higher-yielding options such as government bonds. Other firms are Homeshare, offering tokenised fractional real estate ownership with each property split into 1,000 shares, IndigiShare, which seeks to offer Te Whare Manaaki as a koha loan platform for Māori entrepreneurs and small businesses, Invest in Farming Co-op, an Australia-based cooperative digitising investor ownership of agricultural assets with returns realised on sale of stock or crops, and Tandym Limited, a group investment platform. Selection criteria included genuine innovation, likely consumer benefit, low risk of consumer harm, a demonstrated need for sandbox support, readiness to test, and suitably experienced management.
New Zealand Financial Markets Authority 2025-04-29
New Zealand Financial Markets Authority confirms six firms for its pilot fintech regulatory sandbox
The New Zealand Financial Markets Authority has selected six fintech firms to participate in its pilot regulatory sandbox, including ECDD Holdings Limited and Emerge Group Limited, to test innovative financial products and services. The selection was based on criteria such as innovation, consumer benefit, low risk, and management experience.