Twenty Banks To Join The Hong Kong - Singapore Blockchain Partnership
Hongkong and Singapore has recently partnered to create a blockchain powered trade network.
Cooperated by the two national monetary councils, the institutional level blockchain application will speed up the transfer of finance and digital documents which will eventually make a positive impact on the financial sector in Asia.
According to local bankers, twenty banking companies may sign on to join the blockchain partnership.
This agreement will cooperate two nations which genrally thought of as competitors.
Singapore And Philippines To Partner For Blockchain-Powered Cross-Border Payments
Singapore and Philippines central banks has recently formed a FinTecg agreement that could result to cross-border payments between their markets with the use of the blockchain technology.
The agreement will allow both central banks, Monetary Authority of Singapore (MAS) and Bangko Sentral ng Pilipinas (BSP) to collaborate in sharing emerging FinTech developments and trends, and as well as refer promising FinTech startups and companies to each other.
This will carve an easy entry to each other’s markets with regulatory backings.
Singapore has been known to be a FinTech hub in Asia while the Philippines has shown to be friendly to FinTech activities such as Bitcoin and Blockchain.
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