Hong Kong Monetary Authority has signed a fintech cooperation agreement with the Financial Services Regulatory Authority of the Abu Dhabi Global Market, which supervises the financial market of the United Arab Emirates capital.
The Hong Kong Monetary Authority has stated that, under the cooperation agreement, it will collaborate with the Financial Services Regulatory Authority to develop innovative financial technology projects, with a specific interest focusing on distributed ledger technology utilisation in international trade finance.
As previously reported by CoinDesk, the Hong Kong Monetary Authority and the Monetary Authority of Singapore have started testing the Hong Kong Trade Finance Platform, a Hong Kong Monetary Authority-led trade finance proof-of-concept based on distributed ledger technology since 2017.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now