Canada and Taiwan have agreed to co-operate on FinTech development.
The Canadian Securities Administrators (CSA) and the Financial Supervisory Commission of Taiwan (FSC) have signed the deal.
The agreement extends the work of both nations’ regulatory sandboxes.
It will also enhance informationsharing between the countries.
What does this mean?
Taiwan already has agreements with Poland, France, and Arizona in the US. It hopes to expand its global FinTech reach into Canada. The agreement will allow firms to access either market faster and more flexibly than through a standard application, which will be especially beneficial in testing products.