Arab Finance: The Financial Regulatory Authority (FRA) granted preliminary approval for Tarmiiz to join the regulatory Sandbox, in cooperation with GRANITE Holding for Financial Investments, to develop a digital platform based on asset tokenization technology, according to a statement.

The project aims to enable assets, particularly investment fund units, to be digitally represented on a controlled electronic ledger. This is expected to enhance the efficiency and transparency of the issuance, transfer, redemption, and lifecycle management of financial assets.

Moreover, the FRA granted initial approval to VLens to join the regulatory sandbox for the NFC ePassport Identity Verification project, in cooperation with EFG Holding.

The project intends to provide a secure digital mechanism for verifying the identities of non-Egyptians using mobile devices equipped with near-field communication (NFC) technology to read and verify electronic passports in accordance with internationally recognized standards.

The two approvals are part of the FRA's ongoing efforts to promote innovation and support the development of fintech solutions in the non-banking financial services (NBFS) sector.

The license coincides with the authority's preparations for the annual Regulatory Sandbox Summit on Monday, September 7, 2026. It will highlight the most significant achievements of the Sandbox's first year, showcasing success stories and innovative projects that have been incubated.

Ahmed Khalifa, Executive Director of the FRA Sandbox, said the number of projects granted preliminary approval since the Sandbox’s launch reached nine in its first year.

The Sandbox received more than 50 project applications during its first year, while two projects have advanced to the testing stage, he added.