ABU DHABI, Abu Dhabi Global Market, ADGM, has announced the admission of four new FinTech start-ups in its fourth Regulatory Laboratory, RegLab, cohort.

These four local and international firms, DAPI (UAE), PointCheckout (UAE), Jibrel Network (Switzerland) and Ekofolio (Luxembourg), were selected from a pool of 14 applications with market-ready solutions focusing on areas including sustainable finance and the API economy to be tested in Abu Dhabi and wider UAE market.

ADGM also announced that two of its RegLab firms, NOW Money and Pyypl, have successfully graduated from the RegLab programme and deployed new solutions into the marketplace. Both NOW Money and Pyypl are UAE-founded and based start-ups from the early cohort of ADGM RegLab initiative.

Commenting on the announcements, Richard Teng, CEO, Financial Services Regulatory Authority of ADGM, said, "We warmly welcome the latest batch of FinTech innovators into the RegLab. We are also happy to see home-grown innovators such as NOW Money and Pyypl graduating from RegLab and becoming successful locally and regionally. They offer innovative solutions to real world challenges."

"The RegLab has been an instrumental platform not just for FinTech start-ups to innovate, but also for us as regulators to adapt, re-invent and update our regulatory requirements," he added.

Source: Emirates News Agency