The Malta Financial Services Authority has issued its Fintech Strategy. The publication of the document is a further step towards positioning Malta as a global FinTech hub for established companies and start-ups. The paper (which has received positive feedback from key stakeholders such as regulated firms, associations, technology providers, law and consultancy firms) provides financial operators with the necessary guidance to innovate and grow their operations, whilst safeguarding investors and the market at large.
The document lays down six strategic pillars which will contribute to create a healthy environment for both financial operators and investors:
- Regulations: to adopt regulatory and supervisory initiatives supporting innovation and improving regulatory efficiency;
- Ecosystem: to create an environment fostering demand, collaboration and access to financial services;
- Architecture: to encourage the adoption of open APIs and shared platforms;
- International links: to build relationships with foreign jurisdictions and consolidate collaboration and trusts;
- Knowledge: to educate emerging talent and boost research;
- Security: to create an environment which can effectively preempt and counter any cyber threats to security;
You can download the MFSA FinTech Strategy document from the following link
How we can help you grow your business with Fintech
As a Virtual Financial Assets (VFA) Agent registered with the Malta Financial Services Authority and established FinTech consultants, we help innovative and established firms take advantage of the opportunities offered by the FinTech revolution. From tax advisory to choosing an appropriate company structure, regulatory advice for blockchain start-ups to the launch of platforms, or even ancillary services for ICOs, Grant Thornton can guide you from start to finish. Get in touch now with one of our experts.