The state government of Andhra Pradesh and the Monetary Authority of Singapore (MAS) have announced a partnership with the aim of promoting fintech innovation, especially blockchain and digital payments. An agreement to this effect, Fintech Cooperation Agreement, has been signed by the two entities, with the idea of setting up required infrastructure within the state. MAS issued a press release stating the partnership will explore joint innovation projects on technologies such as digital payments and blockchain. The partnership will also see fintech-based curriculum developed for education programs in Andhra Pradesh. According to Sopnendu Mohanty, chief fintech officer of MAS, the regulator is looking to create a marketplace in India for fintech solutions developed in Singapore. This can potentially help Singapore fintech startups that are looking to venture into India.
