MAS signs fintech deals with France

Part of the collaboration involves information sharing about emerging fintech trends.

The Monetary Authority of Singapore (MAS) on Monday signed cooperation agreements with the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF) of France to enhance fintech cooperation between the two countries.

The announcement said the cooperation agreement provides a framework under which ACPR, AMF, and MAS will share information about emerging fintech trends, potential joint innovation projects, and regulatory issues pertaining to innovative financial services.

The framework will also allow authorised fintech companies in Singapore and France to facilitate their understanding of regulatory requirements in each jurisdiction, so as to foster trades and flows across the two markets.

“We look forward to closer interactions between our respective fintech ecosystems, more opportunities for our businesses, and greater convenience for consumers in both our countries," said MAS managing director Ravi Menon.