Hungarian and Thai industry associations plan to collaborate on the implementation of blockchain technology in financial services. Both sides will benefit from each other’s experience as well as new ideas and solutions through their partnership.
Thailand and Hungary Sign a Blockchain Pact at the Bilateral Fintech Forum
The Thai Fintech Association and Hungary’s Blockchain Coalition have signed a Memorandum of Understanding to support the introduction of new technologies to their financial markets. The agreement was inked during the first edition of the “Thai-Hungarian Fintech Forum: Powering the Financial Revolution Together,” the Bangkok Post reported on Saturday.
Hungarian Embassy organized the event to showcase financial technology services. Hungary’s Blockchain Coalition was established on the initiative of the Ministry of Innovation and Technology and the National Data Economy Knowledge Center in March, to promote the country as an innovator in the digital age. The members are from all sectors, including the academic, private and public.
President of the Thai Fintech Association Chonladet Khmarattana stated that digital financial services like e-commerce and mobile payments are rapidly growing in Thailand. According to him, international cooperation is essential for further advancement in financial technology. He elaborated:
Thailand can gain additional experience by collaborating with Hungarian firms in the future. Both countries will be able to develop new services or ideas in the future.
Hungary believes it is of the utmost importance to promote the latest fintech solutions and establish deep cooperation with partners in that field, according to the Hungarian Ambassador to Thailand Sándos Sipos. The diplomatic mission recognizes the importance of shaping financial technology trends, he said.
Sipos reminded Sipos of the fact that both countries will be celebrating the 50th anniversary next year of their diplomatic relations. He described the memorandum as another milestone in the financial cooperation between Hungary and Thailand after last month’s participation of Bank of Thailand Governor Sethaput Suthiwartnarueput in the Budapest Eurasia Forum held by the Hungarian National Bank.
Are there any other countries that have partnered to advance blockchain technology in the financial sector? We’d love to hear from you in the comment section.
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