Cross-border FinTech efforts have seen increasing participation from central banks and monetary authorities.
Among the most recent headlines, in Asia this past week, the Monetary Authority of Singapore (MAS) and the National Bank of Cambodiahave signed a memorandum of understanding (MOU), that Business Times said will boost partnerships on FinTech and financial services innovation. The banks have also agreed to share data on emerging markets. The MOU dictates that the banks will train FinTech startups with an eye on cross-border transactions.
Deputy Managing Director of MAS Jacqueline Loh said the relationship demonstrates a FinTech that may extend to other countries in the ASEAN region.