To renew their commitment to deepening collaboration in financial technology (“FinTech“) and strengthening financial cooperation, on 10 November 2025, the Monetary Authority of Singapore (“MAS“) and Otoritas Jasa Keuangan (“OJK“), signed a Memorandum of Understanding (“MOU“) on Cooperation in Financial Technology. The renewed collaboration will:
- help financial institutions and FinTech firms in both countries harness opportunities arising from FinTech developments, which include digital financial assets and artificial intelligence in financial services; and
- promote both countries as key nodes and contribute to the growth of ASEAN’s digital economy.
This renewed MOU builds on the previous MOU signed in 2018, and expands existing cooperation to support the continued growth of technological innovation in the financial sector. Key initiatives under the renewed MOU include:
- sharing of knowledge and best practices between MAS and the OJK;
- promoting cooperation between the relevant financial industries in both countries, including the active engagement of industry bodies;
- referring promising FinTech firms to participate in each other’s regulatory sandboxes; and
- facilitating the flow of information across borders when FinTech firms conduct business within their licensed scope of activities, in accordance with applicable laws and regulations.
Click on the following link for more information:
- MAS Media Release titled “MAS and OJK deepen collaboration in FinTech and digital financial assets” (available on the MAS website at mas.gov.sg)
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