Thailand and Hungary Partner to Advance Blockchain Technology in Financial Sector – Blockchain Bitcoin News

Industry associations from Hungary and Thailand are set to work together to implement blockchain technology in the financial services sector. Both sides hope to share experiences and generate ideas for alternative services as part of the new partnership.

Thailand and Hungary Announce Blockchain Agreement at Bilateral Fintech Forum

The Thai Fintech Association and the Hungarian Blockchain Union have signed a memorandum of understanding to help introduce new technologies to the financial market. The agreement was signed at the inaugural “Thai-Hungarian Fintech Forum: Together Driving the Financial Revolution,” The Bangkok Post reported on Saturday.

The event showcasing financial technology services was organized by the Hungarian Embassy. The Hungarian Blockchain Union was founded in March at the initiative of the Ministry of Innovation and Technology and the National Data Economy Knowledge Center to promote the country as an innovator in the digital age. Its members come from the private, public, and academic sectors.

Chongradet Kemarattana, Chairman of the Thai Fintech Association, pointed out that digital financial services such as e-commerce, mobile payments and digital currency are growing rapidly in Thailand, increasing the number of cryptocurrency holders. In his opinion, further development of financial technology requires international cooperation. He elaborated:

Future cooperation with Hungarian companies will help Thailand gain more experience. It will also help both countries launch new ideas and services in the future.

Hungary considers promoting the latest fintech solutions and establishing deep cooperation with partners in the field to be of utmost importance, said Hungary’s Ambassador to Thailand Sándos Sipos. He added that the diplomatic mission recognizes the need to shape trends in financial technology.

Sipos reminded that the two countries will celebrate the 50th anniversary of the establishment of diplomatic relations next year. He marked another milestone in financial cooperation between Hungary and Thailand after his Eurasian Forum in Budapest, held by the Hungarian National Bank, was attended last month by Setaput, the governor of the Bank of Thailand, Stiwaltonal Eput. explained the memorandum as

Are you aware of other partnerships between countries working together to promote blockchain technology in financial services? Let us know in the comments section below.

Lubomir Tasev

Lubomir Tasev, a tech-savvy journalist from Eastern Europe, loves what Hitchens says. In addition to cryptocurrencies, blockchain, and fintech, international politics and economics are sources of inspiration.