The monetary authorities in Hong Kong and mainland China have agreed to create a one-stop sandbox platform in the Greater Bay Area that will allow financial firms and technology companies to develop cross-border fintech products faster and at lower cost.Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) signed a Memorandum of Understanding on Thursday to link up their sandbox supervisory platforms. The move will give start-ups the chance to test their products in a…
READ SOURCE