HKMA and Central Bank of Brazil Sign Fintech Cooperation Agreement
On September 9, 2018, the Hong Kong Monetary Authority (HKMA) and the Central Bank of Brazil signed a cooperation agreement focused on fintech innovation sharing and cross-border referrals. The agreement establishes a framework for both regulators to exchange information on fintech trends, regulatory approaches, and emerging technologies. It also facilitates referrals of fintech companies between the two jurisdictions, helping firms explore opportunities in each other's markets.
The partnership aligns with a broader global trend of central banks and financial regulators establishing bilateral fintech cooperation agreements. The deal is expected to benefit fintech firms and banks in both Hong Kong and Brazil by reducing barriers to cross-border expansion. No specific financial terms were disclosed.
The agreement was announced via an official HKMA press release.
- Strengthens cross-border regulatory frameworks that facilitate fintech and BaaS expansion between Asia and Latin America
- Signals growing international coordination on fintech regulation that could lower barriers for embedded finance providers