After signing agreements with European and Asian jurisdictions, Singapore has now straddled the Pacific Ocean for its latest financial technology tie up.
The Monetary Authority of Singapore (MAS) and the Association of Supervisors of Banks of the Americas (ASBA) signed a Memorandum of Understanding (MOU) to bolster fintech ties between Singapore and the Americas.
The MOU provides a framework for fintech cooperation between Singapore and ASBA member countries.
Under the framework, both parties can explore potential joint innovation projects on technologies such as blockchain and big data. MAS and ABSA will also facilitate discussions on issues of mutual interest, such as emerging fintech trends and other pertinent issues on innovative financial services.
Growing Global Reputation
«FinTech is fundamentally about ideas and enterprise flowing between cities. It requires bringing together a range of stakeholders. This MOU embodies MAS’ and ASBA’s resolve in accelerating the growth of FinTech in the respective regions, through increased collaboration and exchanges between our respective FinTech ecosystems,» said Sopnendu Mohanty, Chief FinTech Officer, MAS.
In the past couple of years Singapore has inked similar agreements with Australian,British, Japanese and Middle Eastern jurisdictions.
Parties in the Lion City are also working hard to achieve financial technology breakthroughs and Singapore is home to a growing community of innovation labs.
