Singapore Attracts Investments into the Country’s Fintech Sector
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....
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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 […]
Investments received by Canadian fintech firms in the year of 2016 has surpassed that of the United States, United Kingdom, and Singapore. Canada is surpassing the United States in the fintech sector. The changing status quo is quite evident from the scale of investments received by Canadian fintech startups compared to their counterparts in the United States. It is reported that the Canadian fintech sector in 2016 received the highest amount of venture capital backed funds since the past two decades. The funds raised by Canadian blockchain and fintech companies is said to have increased....
The Monetary Authority of Singapore (MAS), the country’s central bank and financial regulator, has now entered a FinTech partnership with its Japanese counterpart, the Financial Services Agency (FSA). The move sees the two countries to establish a FinTech cooperation framework. Announced yesterday, the financial regulators from the two major Asian economic hubs have fundamentally reduced the barriers for entry of FinTech companies in their countries enter each other’s markets. “Technology and innovation remain key enablers of financial sector growth in Singapore and Japan,” stated MAS....
Sweden has emerged as a favorable alternative to fintech companies planning to set up base in EU following Brexit. With Brexit around the corner, Sweden could present itself as one of the alternative destinations for the European financial industry. The upcoming Brexit has turned into a speculator’s game. Britain’s exit from the European Union is expected to have a divisive effect on the country’s thriving finance and financial technology sector. All the efforts put in by the City of London to foster a healthy fintech ecosystem may go to waste as companies risk losing free access to the EU....
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,....