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San Marino

No Open Banking

There is momentum in San Marino to transform the country into a blockchain haven.

According to Kepios, San Marino’s internet penetration rate stood at 60% of the total population at the start of 2022.

Mobile payments start to become more common in San Marino, and recently Alipay+, which includes the major payment wallets used in Asia, launched in San Marino, targeting visitors.

According to Fintech Futures, members of San Marino’s government want to transform the country into a blockchain haven. The Technical Group of the Scientific Committee of the Republic of San Marino has begun to establish legislation in the sector. The long-term goal is to finalise the legislation for any firm wanting to develop the technology on the premises but wishing to operate internationally.

According to the United Nations’ sustainable development report, San Marino provides excellent education services. The intention is to create new professional skills demanded by the labour market. Recently San Marino introduced the San Marino Digital Agenda (ADS), which is a digital development plan of San Marino and represents the national strategy for structural interventions in the process of technological innovation, pursuing the objectives of sustainable social and economic growth of the country.