Officials from the United Kingdom and Singapore gathered in London this week for the 10th UK-Singapore Financial Dialogue, marking a new chapter in cross-border cooperation on emerging financial technologies.
The meeting, held Wednesday, brought together representatives from the UK’s Financial Conduct Authority (FCA), Singapore’s Monetary Authority (MAS), and other regulatory and industry leaders to align policies on tokenized assets and digital infrastructure.
One of the main outcomes was an agreement to expand collaboration on Project Guardian, a joint program designed to pilot real-world applications of tokenized financial instruments. As the project enters its next phase, authorities plan to engage more closely with organizations such as the UK Investment Association and Singapore’s Investment Management Association to explore how tokenization can modernize investment products for clients.
Shared Ledger Ambitions and Evolving Crypto Regulation
The talks also spotlighted the Global Layer One (GL1) initiative—a multinational effort to build interoperable ledger systems that simplify trading of tokenized assets across jurisdictions.
UK regulators shared insights from their early experiences with GL1, while Singapore officials offered updates on the project’s progress in Asia. Proponents argue that shared ledgers can reduce regulatory friction and unlock efficiencies in cross-border finance.
However, the dialogue came at a time of heightened regulatory scrutiny. Just days before the event, Singapore moved to tighten crypto exchange regulations amid rising concerns about illicit finance and market volatility.
Meanwhile, the UK is attempting to encourage technological innovation without compromising safeguards—a balancing act that has become a recurring theme in digital finance policy debates.
Artificial Intelligence Becomes Central to Policy Roadmaps
Artificial intelligence featured prominently on the agenda, reflecting its growing role in reshaping financial services.
Delegates reviewed current applications of AI in compliance, risk management, and customer engagement, while also discussing the challenges of safe and ethical deployment.
Both countries agreed to kick off a formal partnership on AI, beginning with an AI Innovation Showcase in London that demonstrated tools and services developed across their financial sectors.
The UK has made AI a cornerstone of its economic strategy. Earlier this year, the Labour government unveiled plans for dedicated AI growth zones and a National Data Library aimed at boosting digital infrastructure and supporting startups.
Quick Facts
- UK and Singapore officials met in London to advance cooperation on tokenization and AI in finance.
- The dialogue included updates on Project Guardian and the Global Layer One shared ledger initiative.
- Both countries will launch a formal AI collaboration, starting with an innovation showcase.
