MAS, ASIC sign Innovation Functions Cooperation Agreement to boost fintech

Monday 20 June 2016 11:28 CET | News

The Monetary Authority of Singapore (MAS) and the Australian Securities and Investments Commission (ASIC) have signed the Innovation Functions Cooperation Agreement to help financial technology businesses in both countries explore opportunities across markets.

Fintech companies in Singapore and Australia can start initial discussions more quickly and get advice on licencing. That should help to cut regulatory uncertainty and, possibly, time to market too, reports.

Australian companies could move into Singapore’s fintech space, where banks are present as well.

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Keywords: MAS, ASIC, fintech, markets, Singapore, Australia
Categories: Payments & Commerce | Online Payments
Countries: World
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