What has happened?
The Banque de France (BDF) and the Monetary Authority of Singapore (MAS) are to deepen financial ties and foster closer co-operation in key areas.
What does this mean?
In a joint statement, BDF and MAS said that BDF will open an Asian office in Singapore early next year, including a dealing room.
This will BDF's second office abroad after New York, which opened in 2010.
This new office aims to provide enhanced monitoring of Asian economies and financial systems, and forge closer relations with central banks and financial authorities in the Asia-Oceania region.
The Autorité de contrôle prudentiel et de résolution (ACPR), BDF and MAS will also sign a memorandum of understanding (MOU) to enhance co-operation in cybersecurity, through regular information sharing on cyber incidents and threat intelligence.
Staff exchanges are also meant to deepen working relationships and mutual learning.
The MOU will be signed at the Singapore FinTech Festival and Singapore Week of Innovation and TeCHnology 2019.
Getting around financial regulations affecting FinTechs isn't easy, so please let us know if we can help your organisation ensure it doesn't fall foul of a constantly evolving legal situation.