Monday 07, August 2017 by Jessica Combes

ADGM and Swiss Finance + Technology Association advance fintech activities and global ecosystem

 

Abu Dhabi Global Market (ADGM) and the Swiss Finance + Technology Association (SFTA) have formed an alliance to strengthen each other’s fintech ecosystem.

The agreement aims to foster mutually-beneficial opportunities that support the growth and deployment of innovations in both markets.

“It is an honour announce this collaboration with ADGM to foster links between the fintech ecosystems in Switzerland and Abu Dhabi. This connection is expected to benefit entrepreneurs, investors, and companies from both of these two global centres of wealth and finance. We also plan to share knowledge, for example, at the upcoming ADGM Fintech Summit, but also by connecting with a range of relevant public sector partners in Switzerland. In particular, there is clear opportunity for synergies with topics such as crypto finance, wealth management, insurance, and ethical fintech. Speaking more broadly, this relationship illustrates our continued interest to develop a neutral global network of leading fintech hubs so that each can develop their competitive advantages while the global ecosystem expands,” said John Hucker, CFA, President of SFTA.

The SFTA, a non-profit association organised under Swiss law, is an independent organisation whose members represent various stakeholders in the Swiss fintech ecosystem. This collaboration will provide the impetus to connect Swiss and UAE fintech participants to business opportunities, experience and investments in each other’s region, accelerate the exchange of fintech expertise, and anchor fintech activities in ADGM, Abu Dhabi, and Switzerland.

“As global wealth management centres, Switzerland and the UAE have nurtured decades of mutually beneficial and strategic bilateral ties. With Switzerland as one of the world’s leading blockchain and crypto-currency centres, this new Fintech Bridge and partnership dovetail well with Abu Dhabi’s focus as a global Fintech hub. We look forward to working closely with SFTA to advocate an inclusive Fintech ecosystem that brings Fintech innovators and financial institutions together to build deep capabilities in seeking new growth opportunities and shifting our respective economies into higher gear. We believe the Fintech startups and business community will greatly benefit from the innovation platforms of our respective jurisdictions, including ADGM’s Regulatory Laboratory programme,” said Richard Teng, CEO, Financial Services Regulatory Authority of the Abu Dhabi Global Market.

ADGM has established a number of international Fintech bridges including the Monetary Authority of Singapore, the Australian Securities & Investments Commission, the Kenyan Capital Markets Authority and the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (Qianhai Authority). ADGM will continue to establish new initiatives and work closely key stakeholders to foster an open and inclusive global Fintech hub to serve Abu Dhabi and the greater MENA region. As part of its ecosystem-building commitment, ADGM’s global network of fintech partnerships includes the Middle East and Africa region, India, Switzerland, Europe, USA, the United Kingdom and others.

 

  

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