PUBLISHED: 26 Apr 2024 at 04: 00
Thailand and Australia have signed a pact for economic systems cooperation to advance the region’s banking sector.
The Thai Fintech Association and FinTech Australia signed a memorandum of understanding ( MoU) this week.
Thailand and the South Asian region have shown significant development opportunities for the American regional economic systems sector, according to Brian Collins, vice chair of FinTech Australia.
Thailand and Southeast Asia offer a sizable rise opportunity for our neighborhood banking industry. Due to the rapid growth of different types of finance, many of our users expressed interest in this region of the world. We look forward to working with the Thai Fintech Association to strengthen both nations ‘ results,” he said.
American Fintech members were in Bangkok to meet the Money20/20 Asia 2024, one of the nation’s leading networking websites and workshops, joined by thousands of banking and financial services professionals.
Chonladet Khemarattana, President of the Thai Fintech Association, said that Thailand was emerging as a hub for blockchain technology.
The East Asian market’s enormous growth potential is acknowledged by the Thai Fintech Association as “he warmly welcomes the relationship with FinTech Australia.” We are willing to collaborate with FinTech Australia to leverage our complementary strengths and improve the fintech ecosystems ‘ outcomes in both locations, he continued.
Angela Macdonald, the American ambassador, said during the signing meeting that Thailand’s economic technology industry is one of the fastest growing in Southeast Asia.
” Coupled with Australia’s interesting and dynamic financial environment, this agreement is a delightful step in online business partnership with Thailand”, she added.
FinTech Australia is the not-for-profit peak industry body for the Australian fintech sector, according to the Australian embassy. The industry’s value grew from A$ 250 million ( about 6 billion baht ) in 2015 to A$ 45 billion in 2023.
She claimed that the MoU signing was in line with Australian Prime Minister Anthony Albanese’s” Invested: Australia’s Southeast Asia Economic Strategy to 2040″ from last year.