The Financial Conduct Authority has received more than 600 applications to its regulatory sandbox since its launch in 2016.

New figures from the FCA reveal that over 2,000 new fintech firms have applied for support since its Innovation Hub was opened in 2014.

The FCA has given the green light to two ‘sandbox’ trials to support innovative firms devising new ways to tackle the challenges caused by the Coronavirus pandemic.

The Financial Conduct Authority has unveiled the list of 31 firms that were successful in their applications to begin testing in the second phase of the regulatory sandbox project designed to let firms test out innovative new financial ideas and products.