MAS to collaborate with MIT in fintech

SINGAPORE (Nov 14): The Monetary Authority of Singapore (MAS) will be collaborating with the Massachusetts Institute of Technology (MIT) to help boost Singapore’s fintech talent pool, amid growing regulatory challenges over an industry where the rulebook is thin and the standards immature.

Under the collaboration with MIT’s famed Media Lab, Singapore-based professionals and researchers in related fields will get a chance to work alongside their MIT counterparts. Banks and other financial institutions will also have their opportunities to take part in trials and experiments on new projects, such as those in distributed ledger technology (DLT).

DLT has possible applications in areas ranging from interbank payments, securities settlement, insurance claims processing, and trade finance.

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