China in addition to Australia ink fintech deal to share information

Regulators in both countries will also provide each various other with insights on experiments with regulatory technology (regtech).

Regtech will be an offshoot of the fintech sector pertaining to innovations which make both financial regulation in addition to regulatory compliance simpler in addition to more efficient.

“We also look forward to sharing our insights in addition to experiences on regtech with the CSRC,” ASIC’s Medcraft said.

Fintech agreements to share information in addition to collaborate on innovation have been formed by numerous countries.

Last month, the central banks of Hong Kong in addition to Singapore agreed to a data sharing arrangement, as well as a cross-border trade project based on blockchain technology.

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