The Monetary Authority of Singapore (MAS) and Magyar Nemzeti Bank (MNB) – Hungary's central bank – have signed a cooperation agreement for fintech collaboration between both countries.
As part of the partnership, there will be a referral mechanism to help fintech firms in both countries access each other’s markets, according to an announcement on Wednesday evening.
The agreement «lays the foundation for [Hungary and Singapore] to harness fintech for a smarter, more efficient and more inclusive financial sector in our respective countries,» Sopnendu Mohanty, MAS chief fintech officer, said in the announcement.
The signing of the cooperation agreement took place at the World Fintech Festival in Budapest, held in partnership with the Singapore Fintech Festival 2020.
- finews.asia is an official media partner of the Singapore Fintech Festival 2020.
