MAS Commits S$220 Million to Accelerate Innovation in the Fintech Sector: Gan Kim Yong
- On Monday, the Monetary Authority of Singapore announced FSTI 4.0, committing S$220 million over three years to strengthen the fintech ecosystem and accelerate innovation in frontier technologies like artificial intelligence.
- Deputy Prime Minister and MAS chairman Gan Kim Yong noted Singapore currently hosts more than 1,800 fintech firms employing close to 10,000 individuals, following S$2.9 billion in fintech investments during 2025.
- The scheme introduces a manpower track co-funding internship stipends and launches a portal managed by the Singapore FinTech Association to support at least 1,000 fintech internship opportunities over three years.
- Gan emphasized that the financial sector is not a "zero-sum game," noting Singapore competes with global hubs while developing infrastructure to capture new growth opportunities in emerging technologies.
- First launched in 2015, the scheme now supports institutional innovation and shared infrastructure to lift productivity, while the MAS fintech awards track raises the Republic's global profile as a competitive hub.
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Singapore to invest US$173m over 3 years to boost fintech innovation
Singapore will commit S$220 million (US$173 million) over three years to boost its fintech sector, including co-funding at least 1,000 internships in a strong push to build talent for AI and other emerging technologies. The funds come under the latest iteration of the Financial Sector Technology and Innovation Scheme (FSTI), which aims to strengthen the country’s fintech space and accelerate innovation and technology adoption in the financial se…
Singapore is putting S$220M into fintech as private funding hits a decade low
Singapore has committed S$220M, about $173M, to its fintech sector over the next three years. It made the announcement three days after KPMG reported that private investment in Singaporean fintech had fallen to its weakest first half in roughly a decade. The timing is not a coincidence, and nobody is pretending otherwise. Gan Kim Yong, […] This story continues at The Next Web
Singapore commits $170 million over three years to drive fintech innovation
Singapore Plans $173 Million in Fintech Funding Over Three Years
Singapore has earmarked S$220 million ($173 million) over three years to fund financial technology and innovation, as it seeks to stay competitive with other rival hubs including Hong Kong that are also investing in this area.
MAS commits $220m to support Singapore's fintech sector over next 3 years
To support innovation in Singapore's financial sector, the Monetary Authority of Singapore (MAS) will commit $220 million in funding over the next three years, Deputy Prime Minister Gan Kim Yong announced on Monday (Aug 31).The funding will come under the fourth iteration of MAS' Financial Sector Technology and Innovation Scheme (FSTI), DPM Gan said."With AI and other frontier technologies emerging, we want to capture new growth opportunities," …
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