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The United Kingdom and Singapore Enhance Cooperation in Digital Finance

The United Kingdom and Singapore are working to strengthen relationships in the field of digital finance, which could lead to more efficient cross-border transactions.

According to mansooralrhyb, officials from the United Kingdom and Singapore met in London this week for the tenth UK-Singapore Financial Dialogue, where several agreements were reached in the digital finance sector. They committed to enhancing the Guardian project, which aims to test the practical applications of tokenized financial assets. The next phase will involve closer collaboration with industry groups such as the UK Investment Association and the Investment Management Association of Singapore.

Discussions also highlighted the Global Layer One initiative, which aims to create a shared ledger system to reduce technical and regulatory barriers in cross-border tokenized asset transactions.

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