Another very successful Luxembourg presence at the Singapore FinTech Festival

Luxembourg once again marked a strong and growing presence at the Singapore FinTech Festival, confirming the continued interest of our financial industry in Singapore as a key partner in Asia. This year’s delegation, coordinated by Luxembourg for Finance and the Luxembourg House of Financial Technology, brought together more than 40 participants. This represents an upward trend in private sector engagement and reflects Luxembourg’s ambition to deepen its ties with the region.

High level regulatory dialogue formed another important part of the programme. Meetings between the CSSF and the Monetary Authority of Singapore underlined the importance of ongoing exchanges between regulators at a time of rapid innovation worldwide. Maintaining such dialogue helps ensure that both sides remain aligned on standards and developments in areas such as digital assets, operational resilience and responsible innovation.

Ambassador Patrick Hemmer and his team also held various bilateral meetings with public and private stakeholders on the sidelines of the Festival. He used the opportunity to follow up with SpeQtral, the high-tech quantum communication company with whom Luxembourg satellite operator SES signed a memorandum of understanding during the Singapore State Visit to Luxembourg earlier this year. Both companies continue to work together on the development of an interoperable optical ground station that will enable long distance satellite-based quantum key distribution between Asia and Europe. The Embassy reiterated to SpeQtral that it remains at their disposal to support their efforts whenever useful.

The Embassy team also met with the management of PM International, a Luxembourg success story originally from Schengen. PM International, one of the fastest growing direct sales companies worldwide, has just inaugurated its new Asia Pacific headquarters in Singapore. This 22-million-euro investment is a significant milestone in the company’s global expansion strategy and further strengthens its presence in a rapidly growing market. The Embassy congratulated the team on this achievement and reaffirmed its full availability to support them going forward.