The UK and Singapore reviewed their cooperation in digital assets, AI and quantum technologies during the 11th UK-Singapore Financial Dialogue, held in Singapore on 20 October.
The discussions also covered capital markets, sustainable finance and opportunities for international cooperation in 2027.
Officials from MAS and HM Treasury (HMT) attended the meeting alongside representatives from the Bank of England (BoE), the Financial Conduct Authority (FCA) and both countries’ diplomatic missions.
Both countries discussed initiatives supporting cross-border tokenisation and the development of wholesale digital financial markets.
Singapore highlighted MAS‘ Project Guardian, BLOOM and Global Layer One (GL1), while the UK shared updates on its Wholesale Financial Markets Digital Strategy, Wholesale Digital Markets Champion and Digital Securities Sandbox.
Officials also reviewed ongoing tokenisation work by the BoE and FCA, alongside developments in crypto-assets and stablecoins.
Discussions covered the implications of digital money for wholesale financial markets and institutional settlements.
AI was another area of focus, with both countries exchanging views on measures to support its safe and responsible use in financial services.
The UK outlined its AI Adoption Plan for Financial Services and related initiatives under its Financial Services Strategy.
Singapore discussed its Safeguards for Agentic Finance at Runtime (SAFR) initiative, which provides a framework for AI agents to carry out financial tasks safely and reliably.
MAS introduced SAFR with industry partners in July 2026. The framework sets out governance checkpoints to verify, authorise and record proposed actions by AI agents before execution.
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