Singapore and Hong Kong Central Banks Join Forces In The FinTech Space

source: The Business Times

In a joint-announcement today (25 October 2017), Singapore's MAS (Monetary Authority Of Singapore) and Hong Kong's HKMA (Hong Kong Monetary Authority) signed an agreement to strengthen co-operation on FinTech between the two cities. Most of the initiatives will be tapped on the Blockchain Technology. 

From competitors to friends, the first collaboration will see the two financial authorities work on a cross-border trade finance initiative powered by Blockchain Technology. Hope this collaboration will spur on more cross borders initiatives and benefiting consumers and investors from both countries.

More details of the collaboration will be shared in the coming month, most likely during the FinTech Week in Singapore (mid-November 2017). 

For more details of the news, check out The Business Times article here and the media release from MAS site here. 

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