Financial Technology Sandbox

Financial Technology Sandbox

 

In 2019, the Wyoming Legislature enacted HB 57, which created a financial technology sandbox for the testing of innovative financial products and services in Wyoming. An “innovative financial product or service” is defined as a financial product or service that uses:

 

new or emerging technology, or new uses of existing technology, that provides a product, service, business model or delivery mechanism to the public and has no substantially comparable, widely available analogue in Wyoming, including blockchain technology.”

 

The Division envisions entering into reciprocity agreements with other state, federal and foreign jurisdictions which have implemented financial technology sandboxes. These agreements will allow sandbox participants in other jurisdictions to make their innovative products and services available in Wyoming. As those agreements become effective, they will be made available here.

 

Wyoming’s financial technology sandbox will begin accepting applications on January 1, 2020. Rules governing the sandbox will posted below and will be available for comment in November/December 2019.

 

If you are considering applying to participate in Wyoming’s financial technology sandbox, please contact the Division at (307) 777-7797 or  at wyomingbankingdivision@wyo.gov.

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Dylan Smith,
Oct 11, 2019, 6:47 AM