After DIÁRIO announced that the Regional Secretariat for the Economy hired the services of the firm ‘Rebelo de Sousa & Advogados Associados’ for the “implementation by the Autonomous Region of Madeira of electronic money”, the office of the presidency of the Regional Government of Madeira issued a statement noting that the Madeiran executive “commissioned, last week, a study on the feasibility and conditions that would be necessary for the Autonomous Region of Madeira to be able to implement a comparable convertible payment system”.
The Regional Government intends with the said study “to determine potential legal responses to understand the process of using technological solutions within the scope of ‘fintech’ [financial technology] in order to place the Region at the technological forefront at this level”, reads the note sent to the media.