According to Foresight News, the Monetary Authority of Singapore (MAS) has announced the establishment of the Global Finance & Technology Network (GFTN). This initiative aims to enhance the development of Singapore's fintech ecosystem and foster greater collaboration with the global fintech community. The first phase of measures includes developing a regulatory sandbox framework, establishing cross-border payment links, piloting digital assets and tokenization, and promoting the adoption of artificial intelligence (AI).
GFTN will work closely with MAS to advance industry and policy dialogues in the areas of payments, asset tokenization, and AI/quantum technologies. This collaboration is expected to drive innovation and create synergies within the fintech sector, positioning Singapore as a leading hub for financial technology advancements.
