Singapore Regulator Selects Japan For Next FinTech Knowledge Partner
Singapore’s Monetary Authority has closed another fintech knowledge-sharing agreement, this time with Japan and the second in a week.
The Monetary Authority of Singapore (MAS) has announced a new partnership with Japan’s Financial Services Agency (FSA) to enhance mutual Fintech progress.
MAS, which last week signed a similar agreement with Dubai which included Blockchain collaboration, will use the link to “share information on financial services innovation.”
“We are delighted to establish this Co-operation Framework with MAS, which is actively promoting FinTech based on its Smart Financial Centre Vision,” FSA Vice Commissioner for International Affairs Shunsuke Shirakawa said, quoted by Finextra.
“We believe that this Framework strengthens the relationship between FSA and MAS and promotes innovation in our respective markets.”
The speed with which MAS is closing new knowledge-sharing deals is notable, with Singapore shortly to play host to a conference at which major Asian banks will publicly announce their Blockchain roadmaps.
Japan is also conspicuous as having become the world’s surprise number one Bitcoin trading arena in the first quarter of 2017.
Last September, Bank of Tokyo teamed up with the Hitachi Group in Singapore on a Blockchain project aiming to digitize bank checks.
The move is also likely to benefit Singapore’s cryptocurrency market, with MAS having taken over the regulation of its exchanges in August last year.