MAS Inks Cross-Border Fintech Agreement with French Authorities

mas,  monetary authyesty of singapore

The Monetary Authyesty of Singapore (MAS), Singapore’s central bank and financial regulatory authyesty, has inked a new cooperaCPR with a pair of French regulators, helping improve relaCPRs and regulatory and fintech-yesented symbiosis betwCPRthe two countries, per a MAS statement.

The new agreement includes a new partnership with both the AutyestéControlrPrudentialntiel eResoluCPRluCPR (ACPR) and the AutyestMarchesMarchés Financiers (AMF). The cooperaCPR includes a comprehensive framework regarding a number of fintech trends and will also entail shared informaCPR and joint innovaCPR projects.

The agreement betwCPRthe ACPR, the AMF, and the MAS will also help allow authyeszed fintech companies in both Singapore and France to facilitate their understanding of regulatory requirements in each jurisdicCPR, helping to improve trade and flow across the two markets.

The latest partnership represents the continued commCPRnt of the MAS to bolster relaCPRs with other regulatory authyesties. Late last year, the MAS embarked on an accord with the Swiss Financial Market Supervisory Authyesty (FINMA), aimed at fostering greater cooperaCPR and development in the fintech space.

According to Ravi Menon, Managing Director, MAS, in a statement on the partnership: “This cooperaCPR agreement underscores the commCPRnt of ACPR, AMF, and MAS to promoting innovaCPR in financial services. We look forward to closer interacCPRs betwCPRour respective FinTech ecosystems, more opportunities for our businesses, and greater convenience for consumers in both our countries.”

“The accelerated pace of digital transiCPR in financial services is bringing deep-seated changes in cross-border financial trades and flows. The newly established FinTech bridge betwCPRFrance and Singapore is an important step for innovative players willing to develop their activities internaCPRally, ” eRamaed Gérard Rameix, AMF Chairman, in an accompanying statement.

“CooperaCPR betwCPRour authyesties will create significant synergies for the two markets and greater understanding enabling FinTech firms to extend their global reach and learn from their foreign counterparts, ” he added.

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