12 companies with blockchain technology were approved by FCA London

The London Financial Conduct Authority (FCA) recently announced the names of the companies selected to form the fourth cohort of its regulatory sandbox. They also indicated that only 29 of the 69 applications received were accepted by the entity that provides a financial and technical regulatory framework to test their products with customers.

For this cohort, the selected firms use advanced technologies to offer better products to customers, and the list was announced only on July 3 of this year. In addition, the FCA commented in its press announcement that they accepted firms whose proposals are aimed at active crypto, and that "are willing to explore whether in a controlled environment, customers can benefit by minimizing the associated risks."

3 of the firms selected among the 29 would have qualified for previous cohorts, but they had to carry out more tests on their products, and now they will do so in a regulatory sandbox that would represent a small scale for a short period of time. At the moment, the FCA and the firms are negotiating the terms.

Likewise, this sandbox tries to promote a more effective competition in the interests of the clients by allowing the firms to test products, services and innovative business models in a real market.

It is important to note that 12 companies base their business on distributed accounting technology, using platforms such as BlockEx and Finegia, which would represent an important advance of blockchain technology and its foray into products for general public access in England.