Japan Jumps Aboard Singapore’s FinTech Train
The Monetary Authority of Singapore (MAS), the country’s central bank and financial regulator, has now entered a FinTech partnership with its Japanese counterpart, the Financial Services Agency (FSA). The move sees the two countries to establish a FinTech cooperation framework. Announced yesterday, the financial regulators from the two major Asian economic hubs have fundamentally reduced the barriers for entry of FinTech companies in their countries enter each other’s markets. “Technology and innovation remain key enablers of financial sector growth in Singapore and Japan,” stated MAS....
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Andhra Pradesh, an Indian state located in the south of the country and the Monetary Authority of Singapore (MAS), the country’s central bank, have announced a partnership that will aim to promote Fintech innovation with a focus on blockchain and digital payments. Signed on Saturday in India, the “Fintech Cooperation Agreement” will see the MAS, Singapore’s financial regulator and central bank, partner Andhra Pradesh, a state known for its pro-tech ideologies with a history of welcoming foreign investment and partnerships to set up infrastructure within its state boundaries. A press....
The American software company behind incredibly popular services like TurboTax, QuickBooks, Mint.com, and many more announced this week that they're hopping aboard the bitcoin train. In a post on the Lab Experiments section of the company's website, Intuit announced a new service aptly named QuickBook Bitcoin Payments - a new service that will allow businesses to accept bitcoins without ever having to create a bitcoin wallet or handle the bitcoins directly. "Small businesses just want to get paid. Cash is troublesome to keep track of, checks have lots of friction (writing, mailing,....
The Monetary Authority of Singapore (MAS), Singapore’s central bank, has collaborated with yet another Asian country, within days of partnering with an Indian state government over exploring and developing blockchain technology and Fintech. The primary monetary authority in Singapore and the Korean Financial Services Commission (KFSC) – an authority of the same stature in South Korea – will cooperate over Fintech, exploring joint innovation projects with a focus on big data and mobile payments. “This agreement lays the groundwork for deeper FinTech collaboration between Singapore and South....
FinTech is growing in Japan, but, unlike the rest of Asia, it’s doing so at a much slower pace. With the Asian market tapping into the industry, Japan is establishing itself as a late adopter, falling significantly behind. According to a report from Brink News, in 2014 Japanese FinTech investments amounted to only 0.4 percent; however, while that figure doubled in 2015, the total amount was just $142 million. And yet, while FinTech is certainly growing in the country, it appears the reason it hasn’t taken off so quickly is due to a strong bank-branch culture. The Data Market has found that....
The influential financial regulators from Japan and the United Kingdom have ‘exchanged letters’ toward jointly promoting innovation of Fintech or financial technology. The collaboration will also provide guidance and support for FinTech businesses and startups to enter each other’s markets. Announced today, the UK’s Financial Conduct Authority (FCA) and the Financial Services Agency of Japan (FSA) agreed toward the Exchange of Letters (EoL) that will establish a framework for cooperation and referrals between the two countries. Fundamentally, the EoL agreement is designed toward respective....