Singapore Boosts Its Blockchain and FinTech Sectors
The Singapore banking establishment is keen to implement FinTech and blockchain innovations after the launch of its accelerator program, FinLab, earlier this month. On August 3, the Singaporean banking society, the United Overseas Bank (UOB) held its first accelerator program that focused on technology solutions for the financial sector and smart contracts. Nine startups that took part: Attores, CardUp, FinMitra, FinReg, Nickel, SsinoConnect, Stock2Day, Tuple, and Turnkey Lender. According to Singapore news outlet, The Straits Times, startup Attores is working toward building a blockchain....
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Singapore is taking steps to promote the country's fintech ecosystem by easing regulations for investment in the sector. Increasing interest in blockchain technology based applications among banking and financial institutions has got governments and central banks across the world making special allowances for Fintech companies. Singapore is the latest country to consider offering special concessions targeted towards fintech companies. The deputy Prime Minister of Singapore, Tharman Shanmugaratnam has announced that the Central Bank of Singapore is looking into the possibility of easing....
A new report has found that London is still leading the way as the global hub for the FinTech sector, which saw 2015 investments in the industry amounting to $19 billion. The report from Deloitte and All Street Research [PDF] looked at 21 of the major FinTech hubs around the world. After working through quantitative research and interviews with local FinTech subject matter experts, the research found there were five hubs that had a leading Index Performance Score of 25 or less, suggesting that they are more conducive to the development of FinTech. These were London, Singapore, New York,....
Speaking at the Singapore Fintech Festival, ING's blockchain lead spoke publicly for the first time about the bank's trials with digital assets.
The Monetary Authority of Singapore (MAS), Singapore’s central bank, has collaborated with yet another Asian country, within days of partnering with an Indian state government over exploring and developing blockchain technology and Fintech. The primary monetary authority in Singapore and the Korean Financial Services Commission (KFSC) – an authority of the same stature in South Korea – will cooperate over Fintech, exploring joint innovation projects with a focus on big data and mobile payments. “This agreement lays the groundwork for deeper FinTech collaboration between Singapore and South....
In 2021, investments in Singapore’s fintech sector increased by 47% year on year to $3.94 billion. Nearly half of the funds were raised through blockchain and cryptocurrency, with $1.48 billion raised across 82 agreements. Crypto Investments Trump Others In Singapore According to the KPMG Pulse of FinTech H2’21, the country’s transaction value for fintech deals […]