Sweetbridge Featured in Arizona Fintech Sandbox Coverage
As one of the first companies to apply to the U.S.’s first regulatory sandbox for fintech projects, Sweetbridge has been highlighted in national media coverage of this exciting experiment
Arizona made waves earlier this month when it became the first U.S. state to launch a regulatory sandbox for fintech companies.
While countries such as the U.K., Singapore, and Hong Kong have rolled out sandboxes of their own in recent years to balance financial innovation and consumer protection. The U.S. has yet to fully take up the mantle (though the concept was endorsed in a recent report on financial innovation by the Treasury Department).
Enter Arizona.
First authorized in March, news of the sandbox launch in early August was picked up by several national news outlets, with Sweetbridge being highlighted with mentions in Forbes and Bloomberg Law.
In this interview with Arizona Attorney General Mark Brnovich by Forbes crypto reporter Michael del Castillo, Sweetbridge is highlighted as one of the companies looking to set up shop in the sandbox.
In a Bloomberg Law article, fintech reporter Lydia Beyoud quotes Sweetbridge attorney and strategist Will Munsil on the sandbox’s practical significance given the current uncertain regulatory state-of-play in the U.S.:
“We think it’s important to note this is one of the best paths out there for real customers for blockchain companies in the U.S.”
Beyoud also quoted Munsil on the broader, national-level implications of the Arizona experiment:
“I think we want to remind other states how much economic potential can be unleashed when states partner in innovation rather than allowing the federal bureaucracy to be the be-all and end-all of the regulatory space.”
In related coverage, the Wall Street Journal published an August 8 article highlighting the Arizona sandbox as an example of growing frictions between state and federal regulators on financial technology issues.
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