The Monetary Authority of Singapore (MAS) and the Polish Financial Supervision Authority (KNF) have signed an agreement to support fintech innovation in the two markets.
Under the agreement, the two regulators will refer fintech firms to their counterparts and provide support to help the firms understand local regulatory regime.
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The watchdogs will also explore joint innovation projects, exchange information on emerging market trends and their impact on regulation.
MAS deputy managing director Jacqueline Loh said: “We are delighted to work with KNF on this fintech partnership. This agreement signifies MAS and KNF’s commitment to accelerate the growth of fintech in our respective regions, through collaboration and exchanges between both ecosystems.”
KNF chairman Marek Chrzanowski added: “This agreement between KNF and MAS will create opportunities for fintech businesses from Poland and Singapore to expand their activities into Polish and Singaporean markets.”
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By GlobalData
