CySEC Innovation Hub starts accepting applications

Maria Nikolova

The eligibility criteria include the extent to which a firm’s products are new to the market and how they relate to the financial services supervised by CySEC.

More than two months after the Cyprus Securities and Exchange Commission (CySEC) unveiled the pending launch of its Innovation Hub, the program starts accepting applicants.

The CySEC said today that, in order for interested parties to request support, they need to complete the Innovation Hub Submission Form electronically and submit it in word format via email at [email protected]

A dedicated section on CySEC’s website provides detailed information to those interested in how the Innovation Hub functions. It elaborates on the eligibility criteria for prospective participants. These criteria include:

  • The extent to which a firm’s products or services are new to the market, and the degree to which these products and services are covered by existing regulation. CySEC will prioritise truly innovative businesses.
  • Τhe innovation and emerging technology provided by the business is directly related to the financial services supervised under CySEC’s remit; namely the securities and investment markets.
  • The interested party is already underway in determining its compliance with the regulatory framework and/or aspects of the legislation not currently in place for its business model to advance.
  • A deep-rooted commitment to investor protection and a strong ethical culture of compliance.

Among innovation initiatives, CySEC mentions its participation in the Blockchain Technology for Algorithmic Regulation and Compliance (BARAC) project, which is run by the University College London (UCL) Blockchain Technologies. It focuses on examining the feasibility of using blockchain technology for automating regulation and compliance.

CySEC’s Innovation Hub aims to create a platform for dialogue between innovative industries that operate in the FinTech and RegTech spaces, facilitating the exchange of information. FinTech firms will have access to specialised regulatory expertise, industry and academic roundtables – and will also have a voice to improve CySEC’s understanding of the risks and benefits of new innovative investment products and platforms, using Distributed Ledger Technology (DLT), enabling a more informed regulatory landscape.

Read this next

Digital Assets

US court greenlights IRS to track down crypto investors

A federal court has authorized the US Internal Revenue Service (IRS) to issue a so-called John Doe summons for taxpayers who may have failed to report and pay taxes on cryptocurrency transactions. 

Executive Moves

GCEX hires American Express’ veteran Marilu Revelli as marketing director

GCEX, a digital asset and FX technology platform for institutional and professional clients, has appointed Marilu Revelli to the role of Marketing Director.

Crypto Insider lists DeFiChain’s DFI token amid growing popularity

Bitcoin-based DeFi platform DeFiChain announced the listing of its native DFI token on, one of the world’s leading cryptocurrency exchanges.

Digital Assets

Binance in discussions with Japan regulators to relaunch operations

Binance, the world’s largest crypto exchange by traded volume, is reportedly seeking a license to operate in Japan after its exit from the country four years ago.

Digital Assets

OKX Chain integrates .crypto domains to simplify wallet transactions

Unstoppable Domains, a company building Blockchain domain names, has entered a partnership with EVM and IBC compatible chain OKC (OKX Chain). This collaboration will grant OKC’s users the ability to simplify deposits and withdrawals within the regulated fiat-focused crypto-asset exchange.

Retail FX, Technology

MetaTrader’s iOS issue opens brokers’ eyes to other trading platforms

In a surprising (or-not-so-surprising) move, Apple has removed MetaTrader 4 and MetaTrader 5 from its App Store in a huge blow for the leading FX trading platform provider.

Retail FX

Pepperstone adds analytics and automated trading tools free of charge

“We look forward to bringing significant value to Pepperstone traders and making a real, positive impact in their daily trading habits. We are excited to welcome them on board.”

Retail FX

FP Markets wins Best Global Value Broker for 4th consecutive year at the 2022 Global Forex Awards

“We greatly appreciate the continued international recognition as at FP Markets we pride ourselves on these attributes and these prestigious awards are testament to the hard work from our global team to always provide our clients with the ultimate trading experience.”

Inside View

How to Engage Your Customer at Every Stage of Their Journey

As many as 89% of successful businesses say that providing assistive customer experiences is critical to their growth. That’s because a mere 5% increase in customer retention can boost profits by 25% to 95%.