The United Kingdom and Singapore have reaffirmed their commitment to closer financial cooperation, using the 11th UK-Singapore Financial Dialogue to advance joint work on digital finance, artificial intelligence, capital markets and sustainable finance.
Senior officials from both countries met in Singapore on Tuesday, highlighting what they described as a strong and longstanding partnership between two of the world’s leading international financial centres. Discussions centred on emerging technologies, market competitiveness and preparations for major regional and global leadership roles in 2027.
A significant portion of the dialogue focused on digital finance and innovation, particularly the development of tokenised financial markets and digital assets. Officials reviewed initiatives designed to support cross-border tokenisation and wholesale digital market infrastructure, including Singapore’s Project Guardian and Project BLOOM, alongside the UK’s Wholesale Financial Markets Digital Strategy and Digital Securities Sandbox.
Both sides also exchanged views on the evolving regulatory landscape for crypto-assets and stablecoins, as well as the growing role of digital money in institutional finance and settlement systems.
Artificial intelligence emerged as another priority area, with the UK and Singapore emphasizing the importance of responsible AI adoption across financial services. The discussions covered the UK’s AI Adoption Plan for Financial Services and Singapore’s Safeguards for Agentic Finance at Runtime (SAFR) framework, which aims to ensure AI-driven financial activities are conducted safely and securely.
Regulators from both jurisdictions also reviewed progress under the UK-Singapore AI in Finance Partnership, including collaborative initiatives such as PathFin.ai, the FCA’s Supercharged Sandbox and work to develop a common AI taxonomy.
The dialogue also highlighted efforts to boost capital market competitiveness and improve access to growth funding.
UK officials provided updates on ongoing capital market reforms and initiatives to expand access to private capital, while Singapore shared progress on measures introduced through its Equities Market Review Group to strengthen the attractiveness of its equity markets.
Both countries also explored ways to enhance venture capital and growth financing ecosystems, with discussions covering the British Business Bank’s investment initiatives and Singapore’s Growth Capital Workgroup.
Sustainable finance was another key theme, with both governments exchanging updates on transition finance, climate adaptation and resilience.
The UK outlined progress on its Transition Finance Pilot and related initiatives, while Singapore discussed updates to its Singapore-Asia Taxonomy 2.0 framework and experiences with its Financial Sector Carbon Market Grant programme.
Officials also reviewed climate risk management initiatives, including the UK’s Climate Scenarios Sandbox and Climate Financial Risk Forum.
The meeting comes ahead of a significant year for both nations. The UK is set to assume the G20 Presidency in 2027, while Singapore will take on the ASEAN Chairmanship. Participants discussed opportunities for collaboration during these leadership roles and exchanged views on the future work programme of the Financial Stability Board.
The dialogue will be followed by an industry-led UK-Singapore business roundtable on Oct. 21, bringing together financial services leaders from both countries to discuss international cooperation and growth opportunities.
The next UK-Singapore Financial Dialogue is scheduled to be hosted by the UK in 2027.
