Australia and Dubai cooperates on FinTech

The securities and financial regulators of Australia and Dubai have entered into a partnership to cooperate on financial technologies in each other’s markets
24 November 2017   682

The Dubai Financial Services Authority (DFSA) and the Australian Securities and Investment Commission (ASIC) will work together on a joint framework toward FinTech innovation.  The framework will reduce the burden for industry startups and businesses to enter each other’s markets, promoted by the authorities for regulatory compliance.

[The] agreement underscores our commitment to maintaining strong channels of communication with our regulatory peers and creates a regulatory framework that supports the latest developments in FinTech innovation.


Ian Johnston

Chief Executive, DFSA

The terms of the agreement also empowers the two authorities to share information on innovative FinTech developments to each other. Special attention is given to regulatory technology (RegTech) with trials expected to occur between the regulators.

This is the ninth fintech referral agreement ASIC has entered into, following on from agreements with the United Kingdom, Singapore, Ontario, Hong Kong, Japan, Malaysia, Abu Dhabi and Switzerland.

Switcheo to Launch Cross-Chain ETH-NEO Atomic Swaps

Developers says that the technology of atomic swaps has been known for few years, but is not popular, since its implementation in practice is quite complicated
25 April 2019   59

Switcheo announced the official launch of the atomic swaps feature for the Ethereum and NEO blockchains.

From now on, Switcheo users have access to the inter-block exchange of their own token exchange, SWTH and ETH, which allows for the transfer of assets between two markets represented on the trading platform and makes Switcheo the first decentralized exchange that implements this functionality.

A challenge with existing trustless exchanges is that trades are confined to individual blockchains, limiting the market combinations that can be offered to users” says . With the launch of the new feature, users can now trade conveniently between ETH and NEO markets, while retaining full custody of their funds.

Ivan Poon

CEO, Switcheo

According to the developers, the technology of atomic swaps has been known for several years, but is not widely used, since its implementation in practice is quite problematic. Switcheo lead developer John Wong explained that his team spent a lot of time adapting the process to the user's needs and achieved the desired result.