Egypt’s FRA Approves Two New Fintech Projects for Regulatory Sandbox
he approvals were granted by the FRA committee responsible for applications to use financial technology. The initiative is part of the authority’s efforts to provide a flexible and secure regulatory environment where innovative fintech solutions can be tested before being introduced more broadly to the market.
Egypt’s Financial Regulatory Authority (FRA) has granted preliminary approval for two new projects to join its regulatory sandbox, expanding the testing of emerging financial technologies in the country’s non-banking financial sector.
The approvals were granted by the FRA committee responsible for applications to use financial technology. The initiative is part of the authority’s efforts to provide a flexible and secure regulatory environment where innovative fintech solutions can be tested before being introduced more broadly to the market.
The first project, submitted by Tarmiez Information Technology in cooperation with Granite Holding for Financial Investments, involves the digital transformation of a regulated money market fund using tokenization technology. The project aims to develop a digital platform that represents assets, particularly investment fund units, electronically on a controlled digital ledger.
According to the FRA, the tokenization platform could improve the efficiency and transparency of issuing, transferring and redeeming investment units, while supporting the management of the financial asset throughout its lifecycle.
The second project was submitted by VLens in cooperation with EFG Holding. It focuses on verifying the identities of non-Egyptians using NFC-enabled electronic passports.
The solution is designed to provide a secure digital process through which mobile devices equipped with Near Field Communication (NFC) technology can read and verify electronic passports in line with internationally recognised standards. This would enable non-Egyptians to access insurance, investment and other non-banking financial services through secure digital procedures.
FRA Chairman Dr. Islam Ezzam said the preliminary approvals demonstrate the authority’s continued commitment to providing institutional and technical support for innovative technology solutions.
He said the regulatory sandbox is intended to create a flexible and secure environment for testing emerging technologies, including asset tokenization and digital identity verification, while maintaining market stability and protecting consumers.
The latest approvals come ahead of the annual FRA-Sandbox Summit, scheduled for September 7, 2026. The event will review achievements during the sandbox’s first year, highlight successful projects and discuss the future of fintech and its role in developing non-banking financial services, promoting financial inclusion and accelerating digital transformation.
Ahmed Khalifa, Executive Director of the FRA-Sandbox, said the two new projects bring the total number of initiatives receiving preliminary approval since the sandbox was launched to nine during its first year.
He said the sandbox received more than 50 projects during its first year, while two projects have progressed to the actual testing stage.
Khalifa described the sandbox as an important link between fintech innovation and practical market application, helping companies and entrepreneurs test emerging technologies while supporting the development of more efficient financial products and services.
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