Swiss Partner with UAE to Advance FinTech

Announcements, FinTech, Investing | August 10, 2017 By:

The Swiss Finance + Technology Association (SFTA) and the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) have joined forces to advance FinTech ecosystems in both regions.

ADGM supports FinTech companies in the UAE. The Zurich-based Swiss Finance + Technology Association does the same in Switzerland. The partnership is part of the strategy to make Abu Dhabi a center for the fast-growing FinTech industry.

The alliance between ADGM and SFTA will provide the impetus to connect Swiss and UAE FinTech firms to business opportunities, experience, and investments in each other’s regions, accelerate the exchange of FinTech expertise, and anchor FinTech activities in ADGM, Abu Dhabi, and Switzerland.

“This connection is expected to benefit entrepreneurs, investors, and companies from both of these two global centers of wealth and finance,” said SFTA president John Hucker. “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.”

“As global wealth management centers, Switzerland and the UAE have nurtured decades of mutually beneficial and strategic bilateral ties,” said ADGM CEO Richard Teng. “With Switzerland as one of the world’s leading blockchain and crypto-currency centers, this new FinTech Bridge and partnership dovetail well with Abu Dhabi’s focus as a global FinTech hub. We believe the FinTech startups and business community will greatly benefit from the innovation platforms of our respective jurisdictions, including ADGM’s Regulatory Laboratory program.”