The National Reserve Bank of Tonga (NRBT) introduced the FinTech Regulatory Sandbox Framework on Tuesday, during the Pacific Central Bankers’ Meeting in Nuku’alofa. The initiative, supported by the Alliance for Financial Inclusion (AFI), aims to foster financial inclusion and resilience across the Pacific region.
NRBT Governor Tatafu Moeaki stated, “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.”
The framework allows FinTech firms to trial services such as digital payments, cross-border remittances, and financial literacy tools within defined legal parameters and safeguards. This approach seeks to manage potential risks, protect consumers, and maintain financial system integrity.
Dr. Eliki Boletawa, AFI’s Director for Policy Programs and Implementation, commended the NRBT, stating, “On behalf of our Executive Director, 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.”
The launch aligns with the Money Pacific Goals 2025, which emphasise digital innovation to enhance financial access and resilience in the Pacific.
FinTech applicants interested in participating can apply through the NRBT to test solutions aimed at improving digital payments, remittances, account ownership, financial literacy, and regulatory technologies.
The Pacific Central Bankers’ Meeting continues until 6 June, focusing on advancing financial inclusion and economic resilience in the region.
