In a major step towards responsible innovation, the United Kingdom and Singapore have announced a landmark partnership to shape the future of artificial intelligence in finance. The alliance builds on long-standing financial cooperation between the two nations and reflects a joint commitment to harnessing cutting-edge technology within strong ethical frameworks.
Both countries are recognised as global leaders in fintech and digital finance. With advanced digital infrastructures and sophisticated regulatory systems, the partnership aims to create international standards for AI governance in the financial sector. The focus will be on ensuring AI is deployed fairly, transparently and responsibly, driving immediate improvements in financial services while supporting a sustainable digital economy.
The collaboration continues years of productive dialogue. Since 2023, the UK and Singapore have worked together to accelerate innovation in sustainable finance and fintech, focusing on areas such as transition finance for net-zero economies, asset and fund tokenisation and the development of central bank digital currencies. Both governments have highlighted the need for transparent, globally aligned transition plans to avoid market fragmentation and achieve genuine emissions reductions. The UK’s ongoing consultation on a digital pound mirrors Singapore’s own digital currency initiatives.
AI safety remains at the core of the partnership. In late 2024, the two nations signed a Memorandum of Cooperation to strengthen AI safety governance. This agreement covers joint research, the development of global norms, information sharing and rigorous AI testing protocols. The goal is to ensure AI systems are safe and trustworthy, laying the foundation for public confidence and broader adoption in financial markets. The alliance also addresses practical financial innovations, including asset tokenisation—the process of digitising real-world assets for trading on blockchain platforms. By advancing tokenisation, the partnership aims to broaden access to investment opportunities, lower transaction costs and increase market liquidity, setting new benchmarks for digital finance.
The economic potential is significant. The UK’s AI sector is growing rapidly, with more than 500 companies employing over 12,000 people. Government forecasts suggest markets for trustworthy AI could expand six-fold in the next decade, unlocking more than £6.5 billion. This growth supports wider plans to reform public services and drive economic dynamism through AI, reinforcing the UK’s status as a global AI leader.
This partnership reflects a shared international vision—advancing technology while upholding rigorous ethical standards. As the UK and Singapore deepen their cooperation, they are shaping a future where financial innovation and responsibility move in step, offering a model for others to follow.
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