The Monetary Authority of Singapore (MAS) and the Danish Financial Supervisory Authority (Danish FSA) signed a fintech co-operation agreement to assist fintech companies in Singapore and Denmark to expand into each other’s markets.

The agreement will enable both regulators to refer financial technology companies to their counterparts.

MAS and the Danish FSA have also committed to exploring joint innovation projects together, and to share information on emerging market trends and their impact on regulation.

First Time in Asia

The agreement was signed at the sidelines of the Money 20/20 Europe conference in Copenhagen. Singapore will host the inaugural Money 20/20 Asia conference in March next year.

«Singapore and Denmark are important gateways to their surrounding regions,» said Sopnendu Mohanty, Chief FinTech Officer, MAS.

Scandin-Asia Ties

last month reported on the Memorandum of Understanding signed by Copenhagen Fintech and the Singapore Fintech Association to kick-start the exploratory process between the associations.

This includes the potential scope of collaboration, identifying possible roadblocks and building a bridge between Singapore and Copenhagen.

Singapore based Lattice80 and Nordic Finance Innovation (NFI) also recently signed a memorandum of understanding.