SINGAPORE, Aug. 31 (Xinhua) -- The Monetary Authority of Singapore (MAS) on Monday announced a 220 million Singapore dollars (157 million U.S. dollars) commitment over three years under the renewed Financial Sector Technology and Innovation Scheme, aimed at strengthening Singapore's fintech ecosystem and accelerating technology adoption across the financial sector.
The renewed scheme builds on Singapore's growing fintech industry, which is home to more than 1,800 fintech firms employing close to 10,000 professionals across technology, data, artificial intelligence (AI), compliance, cybersecurity and business roles, the central bank said in a statement.
Fintech investments in Singapore reached 2.9 billion Singapore dollars in 2025, it noted.
The scheme is designed around four key objectives: anchoring and scaling innovation activities in Singapore, accelerating the development and adoption of financial technologies, strengthening technology infrastructure, and supporting talent development and attraction. ■
