The National Reserve Bank of Tonga launched Tonga’s FinTech Regulatory Sandbox Framework, with the support of the Alliance for Financial Inclusion (AFI) at the Pacific Central Bankers’ Meeting in Nuku’alofa, Tuesday 3 June 2025 at Faonelua Convention Centre.
This Sandbox Framework aligns with the Reserve Bank’s objective of promoting financial stability, a sound and efficient financial system, as set out in the National Reserve Bank Act Section 4(2).
Governor Moeaki stated that “the Sandbox provides an environment whereby FinTech companies can safely test their innovative digital financial solutions tailored to the Tongan context, to help address gaps in access and affordability of financial services in Tonga. FinTech applicants can apply to the Reserve Bank to test their services in a live environment, bounded by clear parameters, legal guidelines, appropriate safeguards and well-defined terms, and duration. This is to manage risk of a possible failure, protect consumers and maintain safety.”
On behalf of AFI, Director for Policy Programs and Implementation Dr. Eliki Boletawa, congratulated the National Reserve Bank of Tonga on this important milestone. “On behalf of our Executive Director, Dr. Alfred Hannig, I would like to re-affirm AFI’s commitment to supporting the sandbox initiative. We remain dedicated to leveraging our shared experiences and interests across the network to ensure its continued success,” he stated.
The Reserve Bank further extends invitation to FinTech applicants to test their innovative technology that can contribute to one or more of the following areas:
- Improve digital payment services
- Facilitate cross border remittances
- Expand account ownership among unbanked or underserved
- Improve financial literacy
- Promote financial deepening and financial resilience
- Support policymakers through Regulatory and Supervision Technology
- Address information asymmetries and improve the exchange of financial information
A copy of the Regulatory Sandbox Framework is available on the Reserve Banks website at http://www.reservebank.to.
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