Japan’s Financial Services Agency (FSA) and The Monetary Authority of Singapore (MAS) has announced a new partnership to boost mutual Fintech progress.
The Monetary Authority of Singapore which signed a similar agreement with Dubai which included Blockchain collaboration, will use the link to “share information on financial services innovation.”
FSA Vice Commissioner for International Affairs Shunsuke Shirakawa in his statement said “We are delighted to establish this Co-operation Framework with MAS, which is actively promoting
FinTech based on its Smart Financial Centre Vision,”
Read more quote by Finextra here
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.
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.
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