The sandbox or testbed for financial projects of the National Securities Market Commission (CNMV) will serve to analyze the viability of new business models and the use of technology in the provision of financial services. This space will also allow regulating the activity of new fintech technology companies.
Barcelona is working to promote a financial hub at the Barcelona Stock Exchange and it is in this space where the Generalitat wants the sandbox to be located, a building where the CNMV already has offices. Foment del Treball has joined this request, supporting ERC's proposal in Congress. The republican group has presented a non-legislative motion for the chamber to adopt the necessary provisions to make these services available in the Catalan capital.
Among the arguments included in the parliamentary initiative, shared by the employers' association, ERC argues that Barcelona maintains the fourth position as the most attractive European city for fintech companies, only behind London, Berlin, and Paris. The Catalan capital has also managed to attract a total of 182 million euros in venture capital for this sector in recent years.
"Barcelona has the capacity and potential to create a conducive environment and attract the development of fintech companies, and promote collaboration between talent and organizations that allow accelerating the technological ecosystem," adds Foment del Treball. "Proximity to talent and the dynamism of new ideas and emerging initiatives will determine the success of the sandbox and, for this reason, the Catalan capital is the ideal location for this space," remarks the employers' association.
Add The New Barcelona Post as your preferred Google source for free
Stay informed with the latest news.
