Singapore and Vietnam expand cooperation in finance and digital assets

The agreements were formalised on 12 March 2025 during an official visit by Vietnam’s General Secretary of the Communist Party to Singapore. The Monetary Authority of Singapore (MAS) and the State Bank of Vietnam (SBV) have expanded their Memorandum of Understanding (MoU) on financial innovation. The updated MoU expands the scope of collaboration in digital innovation projects, supports fintech development, and improves payment connectivity between the two nations.  

Representatives from MAS noted that the agreement underscores the ongoing commitment to supporting financial sector growth through advancements in technology and seamless cross-border transactions.

Capital market regulation and digital asset oversight 

In a separate initiative, MAS and the State Securities Commission of Vietnam (SSC) signed a Letter of Intent (LOI) to promote regulatory cooperation. The agreement focuses on strengthening oversight in digital asset regulation, anti-money laundering (AML) and counter-terrorism financing (CTF) measures and enhancing cross-border capital market integration. 

Officials from SSC emphasised that the agreement builds on the deepening economic ties between Singapore and Vietnam, reinforcing collaboration in financial and investment sectors. They highlighted that the LOI sets the foundation for continued regulatory cooperation, expertise exchange, and knowledge sharing to support capital market development, particularly in the digital asset space. 

The exchange of both agreements was observed by Singapore Prime Minister Lawrence Wong and Vietnam’s General Secretary To Lam, marking a further step in the evolving financial relationship between the two countries.