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flag New Zealand launches fintech sandbox to support innovation and competition in finance.

flag The New Zealand government has launched a regulatory sandbox pilot program to support six fintech firms, allowing them to test new financial products under controlled conditions before full commercial launches. flag This initiative aims to boost competition in the financial sector, offering consumers more choices while also aiding economic growth through innovation. flag The pilot, which runs for 12 to 24 months, is part of efforts to remove regulatory barriers and foster a thriving fintech industry.

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