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Singapore and Hong Kong announce FinTech cooperation agreement

First Published 25th October 2017

The Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) sign FinTech agreement

The Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) signed an agreement to strengthen co-operation on FinTech between the two cities and foster FinTech development within the region.

As part of the Agreement, MAS and HKMA have committed to work on a strategic project on trade finance cross-border infrastructure, based on distributed ledger technology, as their first collaborative initiative.

More details will be announced by the two authorities next month. Besides joint innovation projects, the two monetary authorities will collaborate on other FinTech initiatives, facilitate referrals of innovative businesses, share information, and exchange expertise, to facilitate financial innovation in Singapore and Hong Kong.

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