Singapore and the United Kingdom held their 11th Financial Dialogue in Singapore on 20 October 2026.
The discussions covered digital finance, artificial intelligence, digital assets, quantum technology, capital markets, sustainable finance and regional cooperation.
The two sides reviewed initiatives supporting tokenisation and digital markets. These included Singapore’s Project Guardian, BLOOM and Global Layer One, as well as the UK’s Wholesale Financial Markets Digital Strategy and Digital Securities Sandbox.
Developments involving crypto-assets, stablecoins and digital money were also discussed.
The dialogue affirmed the importance of safe and responsible AI adoption in financial services.
The Monetary Authority of Singapore and the UK Financial Conduct Authority reviewed progress under the UK-Singapore AI in Finance Partnership. The work includes PathFin.ai, Spotlight, the FCA Supercharged Sandbox, the AI Observatory and the development of an AI taxonomy.
Singapore also presented its Safeguards for Agentic Finance at Runtime initiative, which sets out a framework for AI agents to perform financial tasks safely, securely and reliably.
Discussions on quantum technology covered supervisory expectations for financial institutions moving towards quantum-safe systems.
The two sides considered the UK National Cyber Security Centre’s post-quantum cryptography migration guidance and lessons from MAS’s Quantum Key Distribution sandbox with industry partners.
Capital-markets discussions covered Singapore’s Equities Market Review measures and the UK’s capital-markets reforms.
Sustainable-finance discussions included the Singapore-Asia Taxonomy 2.0, Singapore’s Financial Sector Carbon Market Grant and the UK’s work on transition finance and climate-related insurance.
The UK will assume the G20 presidency in 2027, while Singapore will hold the ASEAN chairmanship. The 12th UK-Singapore Financial Dialogue will be hosted by the UK in 2027.
Herald View
The live item on this agenda is agentic AI. Singapore brought a framework for AI agents carrying out financial tasks, and the two regulators are building an AI taxonomy together, which is how shared rules start. On quantum, the talk was of supervisory expectations, not deadlines, so banks have a direction but no clock.
