Thai association signs fintech cooperation agreement with Hungarian counterpart

The memorandum signing ceremony was facilitated by the embassy during the First Thai-Hungarian Fintech Forum on October 25, the embassy said.

The two associations will explore areas potentially beneficial for direct cooperation, the embassy said in a Facebook post last week.

“Our embassy was honoured to facilitate the cooperation between Hungary and Thailand in the field of fintech,” the embassy said.

“The first Thai-Hungarian Fintech Forum provided a great opportunity to introduce Hungarian companies active in this area, namely Digital Farmers Market, WhiteHat, Family Finances, Ukatemi Technologies, InnovITech, Peak, TE Food and Kürt to the Thai market.”

The forum also featured discussions on the future of blockchain technology and the financial sector with the participation of Tamás Czeglédi, professional lead of the Hungarian Blockchain Coalition, and Chonladet Khemarattana, president of the Thai Fintech Association, the embassy added.

Speaking during the event, Chonladet said e-commerce, electronic payments via mobile phones and cryptocurrencies are growing fast in Thailand so there should be cooperation with foreign nations for further developments.

He added that Chainalysis, which is an American blockchain analysis firm headquartered in New York City, reported in September that 20 per cent of cryptocurrency holders around the world live in Thailand and Thailand was ranked fifth on the list of countries that accepted use of cryptocurrencies.