Singapore, Asia’s leading FinTech hubs, has recently signed a new cooperative pact with the Indian government. Joining hands for this new innovative project will help in exploring the new boundaries in the world of blockchain and cryptocurrencies related technologies. The pact will jointly focus on the making of the application of financial technologies including blockchain, digital and mobile payments and big data.
The Government of Maharashtra signed a Memorandum of Understanding (MoU) at a ceremony at Magnetic Maharashtra: Convergence 2018 event in India. Mumbai is taking the initiative for supporting innovative companies in the Financial industries, seeding funds and access to a global network of investors and corporate partners from across the Fintech industry. The start-up policies will intent to lighten regulatory and administrative hurdles. This will enable the ecosystem and environment wherein blockchain and crypto currencies will get a direction through entering FinTech industries.
The agreement will foster engagement between FinTech start-ups in Singapore and India, helping Mumbai to develop in Fintech technologies. The project will be a benediction in the creation of future skills, technology, and jobs. The Fintech based programme running in India will also be considered. Earlier Singapore has joined hand with Andhra Pradesh, a southern Indian state and with this successful alliance with Maharashtra, It could be the next Fintech hub of the Asian continent.
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