Swiss Finance + Technology Association joins forces with Abu Dhabi Global Market

The Agreement was sealed by John Hucker, President of SFTA and Richard Teng, Chief Executive Officer, Financial Services Regulatory Authority (FSRA) of ADGM. This collaboration will provide the impetus to connect Swiss and UAE FinTech participants to business opportunities, experience and investments in each other’s region, accelerate the exchange of FinTech expertise, and anchor FinTech activities in ADGM, Abu Dhabi, and Switzerland.

“It is an honour announce this collaboration with ADGM to foster links between the FinTech ecosystems in Switzerland and Abu Dhabi. This connection is expected to benefit entrepreneurs, investors, and companies from both of these two global centres of wealth and finance. We also plan to share knowledge, for example, at the upcoming ADGM FinTech Summit, but also by connecting with a range of relevant public sector partners in Switzerland. In particular, there is clear opportunity for synergies with topics such as crypto finance, wealth management, insurance, and ethical FinTech. Speaking more broadly, this relationship illustrates our continued interest to develop a neutral global network of leading FinTech hubs so that each can develop their competitive advantages while the global ecosystem expands,” said John Hucker, CFA, and President of SFTA.

Richard Teng, CEO, Financial Services Regulatory Authority of the Abu Dhabi Global Market said, “As global wealth management centres, Switzerland and the UAE have nurtured decades of mutually beneficial and strategic bilateral ties. With Switzerland as one of the world’s leading blockchain and crypto-currency centres, this new FinTech Bridge and partnership dovetail well with Abu Dhabi’s focus as a global FinTech hub”.

“We look forward to working closely with SFTA to advocate an inclusive FinTech ecosystem that brings FinTech innovators and financial institutions together to build deep capabilities in seeking new growth opportunities and shifting our respective economies into higher gear. We believe the FinTech startups and business community will greatly benefit from the innovation platforms of our respective jurisdictions, including ADGM’s Regulatory Laboratory programme”, he adds.

The SFTA, a non-profit association organised under Swiss law, is an independent organisation whose members represent various stakeholders in the Swiss FinTech ecosystem. SFTA has established an international networking and continues to establish new initiatives and work closely key stakeholders to foster an open and inclusive global FinTech hub in Switzerland. As part of its ecosystem-building commitment, the Association’s global network of FinTech partnerships includes leading actors in FinTech hubs around the world.

About ADGM
Launched in 2015, Abu Dhabi Global Market (ADGM), an international financial centre located in the capital city of the United Arab Emirates. In line with the Abu Dhabi’s Economic Vision, ADGM is a natural extension of Abu Dhabi’s role as a reliable and responsible member of the global financial community. Established by a UAE Federal Decree as a broad based financial centre, ADGM’s foundation is anchored on three of Abu Dhabi’s strategic strengths: private banking, wealth management and asset management. ADGM will continually expand its financial services in response to the needs of its businesses and marketplace.

Picture: John Hucker (l) and Richard Teng (r)

(Press release/ran)