Agreement Switzerland-Singapore for more cooperation in Fintech

The Monetary Authority of Singapore (MAS) and the Swiss Financial Market Supervisory Authority (Finma) have signed an agreement to expand cooperation on FinTech.

This initiative was launched at the second Financial Dialogue between the MAS and the State Secretariat for International Finance (SIF) held today.

The accord will help spur opportunities for FinTech businesses from Singapore and Switzerland to grow into each other’s markets. MAS and FINMA have also committed to sharing the information regarding emerging fintech trends and regulatory issues pertaining to innovation.

“The deal provides a framework for innovative FinTech companies in Singapore and Switzerland to speed up discussions on introducing new FinTech solutions in each other’s market and understand regulatory requirements, thus helping to reduce regulatory uncertainty and the time-to-market for these new FinTech solutions,” MAS explained.

the deal was led by Ambassador René Weber, Head of the Markets Division in SIF along with representatives from FINMA and the Swiss National Bank, and Jacqueline Loh, Deputy Managing Director of MAS, heading the Singapore delegation.

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