HM Treasury and The Monetary Authority of Singapore (“MAS”) have published a joint statement following the eighth meeting of the UK-Singapore Financial Dialogue, agreeing to enhance cooperation in sustainable finance and FinTech as well as identifying opportunities for collaboration on joint projects.
The statement provides information on agreed areas of cooperation:
- Sustainable Finance, covering transition finance, international standards, and nature and biodiversity;
- FinTech and Innovation, covering crypto and digital assets, central bank digital currency (“CBDC”), E-Wallets, and Project Guardian, a MAS initiative on tokenisation; and
- Cross-border Arrangement for selected Trading Venues.
Firms with exposure to and operations in the UK and Singapore can read the joint statement to learn more about future cooperation between the countries on sustainable finance and FinTech, and any potential impact this may have on their operations.