The agreement lays out a framework for FinTech collaboration between both countries and establishes a referral mechanism to help FinTech companies access each other’s markets.

The NBH and MAS also committed to exchange views on FinTech trends in emerging markets as well as on regulatory issues on financial services innovation.

The agreement was signed at the World FinTech Festival in Budapest, held in partnership with the Singapore FinTech Festival 2020.