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In an effort to give Asian and European FinTech companies access to each others' markets, the UK's FCA and Singapore's MAS announced the creation of a bridge between the two nations that would, amongst other things, make cooperation easier for regulators and companies alike.
Singaporean officials and FinTech companies gathered with UK FinTech companies in Downing Street today to celebrate the launch of the UK’s first ever FinTech Bridge, which included the signing of a regulatory cooperation agreement between the Financial Conduct Authority (FCA) and the Monetary Authority of Singapore (MAS). The agreement will enable the regulators to refer FinTech firms to their counterparts across the globe. It also sets out how the regulators plan to share and use information on financial services innovation in their respective markets.
